Great scope for Indo-Africa collaboration in various sectors

India has prospects for greater collaboration with Africa, particularly in sectors like agriculture, infrastructure, education, energy and skill development and healthcare, according to a report.
"India is well placed to tap the growing potential of the infrastructure sector in African countries such as Ghana, Nigeria, Kenya, Tanzania, South Africa and Botswana," the report by CII-KPMG said.
"India has a significant opportunity to invest in Africa's infrastructure and build on the existing partnerships and relationships in the region," it added. With their abundant resources, African nations can address India's growing energy demands, the report pointed out.
Africa's exports to India have grown sharply over the last decade, with mineral fuels consistently making up majority of the exports since 2006.

Mineral fuel exports from Africa to India, which mostly include crude oil (89 per cent in 2014), have grown from a mere USD832 million in 2005 to just over USD 27.4 billion by 2014.
With India focussing on nuclear energy to meet the rising demands, it aims to produce 25 per cent of its electricity through nuclear power by 2050, the report noted. It said India has in-depth knowledge in a range of areas that could benefit Africa, especially small farm mechanisation.

Chandrajit Banerjee, Director General, CII, said, "With our two regions enjoying young populations, abundant natural resources, good connectivity and strong ties, we can progress together on our development journey. Both sides have experienced strong growth in recent years, including in social and physical infrastructure, leading to rising incomes and new sectors of cooperation.

This is reflected in the fact that bilateral trade has multiplied manifold in the last decade, while Indian companies are displaying rising interest in investing in Africa, Banerjee said, adding that the sectors of interest include agriculture, infrastructure, education and skill development, healthcare and manufacturing.
"India is an emerging economy and many Indian enterprises are investing in Africa, which contributes to Africa's domestic and export economies. Indian companies are generating employment, transferring technology and building local investments to help boost Africa's economy.
"We see India's economic partnership with African countries blooming. Also, over the years, Indian companies have been actively engaged in major infrastructure projects in Africa, including watershed development, and construction of roads, railways, ports, airports, power plants, dams, etc," said Navin Agrawal, Partner, KPMG in India.