India has in the last three years improved on all macro-economic indicators, said Prime Minister Narendra Modi while inaugurated the annual meeting of the African Development Bank (AfDB) in Gujarat.
Prime Minister Narendra Modi on Tuesday said that no village in the country will be without electricity by next year.
Modi made the remark while inaugurated the annual meeting of the African Development Bank (AfDB) in Gujarat's Gandhinagar.
"India has in the last three years improved on all macro-economic indicators. India must be an engine of growth as well as an example in climate friendly development in the years to come," said the Prime Minister.
Stating that after coming to power in 2014, he made Africa top priority, Modi added, "India is the fifth largest investor in Africa, as in the last 20 years it has invested 54 billion dollars."
'Transforming Agriculture for wealth creation in Africa' - the core theme of the Annual Meeting.
The government has also organised an exhibition during the annual meetings of the Bank with an objective to showcase the capabilities of Indian companies in terms of technology, innovation, and start-ups for African countries.
India joined the African Development Fund (ADF) in 1982 and the AfDB in 1983 starting a long history of cooperation spanning over 30 years.
"The main focus of the meeting will be on achieving sustainable growth with High 5s- strategy- which include agriculture, energy, industrialization, regional connectivity and improved quality of life," said Akinwumi Adesina, President of African Development Bank
Key Highlights
► India has had strong ties with Africa for centuries
► I am proud to say that there is no country in Africa that has not been visited by an Indian Minister in the last three years.
► India’s partnership with Africa is based on a model of cooperation which is responsive to the needs of African countries.
► Africa-India trade multiplied in last 15 years. It doubled in the last 5 years to reach nearly seventy-two billion US dollars in 2014-15.
► From 1996 to 2016, Africa accounted for nearly one-fifth of Indian overseas direct investments.
► Many of the challenges we face are the same: uplifting our farmers and the poor, empowering women. Our challenges also include ensuring our rural communities have access to finance, building infrastructure.
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