Krishna today said Indian industry plans to spend over $10 billion developing mines and building a steel plant in the war-torn nation.
Unveiling India's plans for Afghanistan, External Affairs Minister SM Krishna today said Indian industry plans to spend over $10 billion developing mines and building a steel plant in the war-torn nation.
Krishna made this announcement at a global conference where representatives of over 100 countries are meeting to chart the course for Afghanistan after US-led NATO troops pull out in 2014.
India pitched for something like a Marshall Plan to rebuild Afghanistan which faces at least four deficits -- a security deficit, a governance deficit, a development deficit, and an investment deficit.
"Afghanistan needs time, development assistance, preferential access to world markets, foreign investment and a clear end-state and strategy to make sure that it does not once again plunge into lawlessness, civil war, and externally sponsored extremism and terrorism," Krishna said.
"Conceptually there is need for something like a 'Marshall Plan' for Afghanistan, involving all the major stakeholders," he said, referring to the strategy devised by the US to provide monetary support to Europe to help rebuild after the end of World War II and to combat the spread of Soviet communism.
Indian companies were willing to invest up to $10 billion in mining, setting up a steel plant, and related infrastructure in Afghanistan, he said.
"I am happy to announce that the Indian consortium has been awarded the bid for three blocks of the Hajigak iron ore reserves by the Government of Afghanistan," Krishna said.
Highlighting India's plans, Krishna said Prime Minister Manmohan Singh has pledged $500 million in addition to the $1.5 billion committed to its development effort for Afghanistan until the period 2014.
"The Strategic Partnership Agreement signed in October this year commits us to all-round assistance to Afghanistan well into the future," the External Affairs Minister said.
India was also assisting Afghanistan in building an Agricultural University to tap the potential in Agriculture in Afghanistan, he said.
India has extended our assistance to Afghanistan for capacity building; increased the number of civil scholarships offered to enable more students get requisite training in art, culture and technology among other areas to further the process of nation building, Krishna said.
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