India Exim Bank’s Research Papers titled ‘Forging Sustainable India-Africa Partnership through Green Transition’ and ‘India’s Investment Potential in Africa’ were released at the 18th CII-Exim Bank Conclave on India-Africa Growth Partnership by Dr. S Jaishankar, Hon’ble Minister of External Affairs, Government of India, in the presence of H.E. Gen (Retd) Dr. C.G.D.N. Chiwenga, Vice President, Zimbabwe, H.E. Mr. Vital KAMERHE LWA KANYIGINYI, Deputy Prime Minister and Minister of National Economy, Democratic Republic of Congo, Ms. Harsha Bangari, Managing Director, India Exim Bank and industry leaders on June 14, 2023.

 

The 18th edition of CII-Exim Bank Conclave on India-Africa Growth Partnership was inaugurated by Dr. S Jaishankar, Hon’ble Minister of External Affairs, Government of India at New Delhi on June 14, 2023. Addressing the large number of Indian and international delegates, Dr. S. Jaishankar emphasised that rise of Africa is important for global rebalancing. He also stressed that India believes in forging a development partnership based on the needs and priorities of Africa. During the event, Ms. Harsha Bangari, Managing Director, India Exim Bank highlighted that India and Africa have several complementary sectors and industries, which provide a strong foundation for collaboration. The event also witnessed release of two India Exim Bank publications.

 

India Exim Bank’s research publication titled ‘Forging Sustainable India-Africa Partnership through Green Transition’ builds on India’s bilateral trade and investment with Africa and focuses on the potential for strengthening green economy relations. India and Africa remain vulnerable to climate change despite accounting for much lower per capita emissions as compared to the global average. Building an India-Africa partnership through green transition therefore can foster sustainable development, address climate change, and enhance mutual cooperation between the two regions.

 

India and Africa’s bilateral trade has reached new heights in 2022. In this regard, the study has attempted to analyse the level of green trade between India and Africa. Further, the study analyses the present climate financing flows into Africa and the existing gaps which could be addressed through green investment opportunities, for advancing the development impact. The potential areas identified by the study include – sustainable fuels and minerals for transport, green housing, renewable and clean energy, climate smart agriculture, water and wastewater management, and circular economy, among others. India as a trusted development partner of Africa can supplement through concessional financing as well as private sector collaboration.

 

Africa’s huge untapped potential for investments is a recognised fact. Exim Bank Research titled – ‘India’s Investment Potential in Africa’ – further strengthens this element by identifying 16 high-potential countries out of the 54 African economies where Indian companies would be well placed to benefit by deepening their economic engagements. These include South Africa, Côte d’Ivoire, Botswana, Tanzania, Egypt, Kenya, Mozambique, Cameroon, Mali, Tunisia, Ghana, Morocco, Zambia, Nigeria, Algeria, and Democratic Republic of Congo.

 

The in-depth analysis also identifies specific industries within these economies having high investment linkages with India. In fact, an exhaustive investor potential survey for Indian companies operating in Africa was conducted. The findings point at the high importance accorded to factors such as security and stability of raw materials, market size, attractive inward investment policies, repatriation of profits, political stability, and legal system for prospective investors. It is seen that the post investment experience has been favourable for Indian investors in the African markets, both in terms of product acceptability as well as revenue generation. Exim Bank Research on ‘India’s Investment Potential in Africa’ would act as a ready reckoner to interested businesses foraying into Africa and policy makers.

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