Shri Goyal emphasizes the need for India-Africa Trade and Investment Agreement.

India’s experience in creating start-up ecosystem can benefit Africa

Economic outlook promising for both India and Africa as they offer large markets and enormous opportunities: Shri Goyal

India’s digital initiatives like UPI, ONDC can benefit Africa immensely: Shri Goyal

India wants partnership on terms that will be comfortable and beneficial for Africa: Shri Goyal

Union Minister for Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textile Shri Piyush Goyal has emphasized upon the need for a trade and investment agreement between India and Africa. Addressing the Special Ministerial Session at the 17th CII Exim Bank Conclave on India-Africa Growth Partnership today, Shri Goyal said that going forward, the economic outlook, in the long run, is going to be promising for both India and Africa, because this is where the markets and opportunities are present.

The Minister said that this conclave will certainly have a huge impact on our engagements, both bilaterally and also strengthen investment interest. “Every single engagement today demonstrates the immense possibilities between India & Africa. We will be able to offer new technologies that we are working in India that will help expand trade, commerce, business, investment & opportunities for Africa's youth,” the minister said.

Shri Goyal said that we believe that the destiny of nearly 3 billion people is in our hands as India and Africa offer future opportunities that are unparalleled. “India has a decisive leadership today. India's development partnership with Africa will be on terms that will be comfortable to Africa that will liberate its potential and not constrain its future. We want Africa to grow and prosper”, he said.

The Minister said that Prime Minister Shri Narendra Modi has stated our government’s commitment to the economic resurgence of Africa. He said India’s experience with digital revolution to support Africa's growth, extend education, health, spread digital literacy and quality infrastructure could be harnessed. Shri Goyal said India’s Startups and our digital innovations like UPI, ONDC etc. can benefit Africa immensely.

The Minister said that India is pursuing deeper engagement with several developed countries and that India recently concluded a Comprehensive Economic Partnership (CEPA) with UAE, and Economic Cooperation and Trade Agreement with Australia. We are at an advanced stage of discussion with UK and are looking for an enhanced partnership with Canada, EU, Israel and other nations.

Concluding his address, Shri Goyal said that as India enters the Amrit Kaal, it cares not only for the prosperity of its own citizens but for every citizen of the world.

India-Africa trade and investment agreement urged to deepen market access and transfer digital startup technologies benefiting Africa. A proposal for a India-Africa Trade and Investment Agreement to institutionalise deeper commercial and investment ties, strengthen bilateral trade and attract sustained investment flows. The initiative highlights leveraging India's startup ecosystem and digital innovations, including interoperable payment and open network platforms, to support Africa's economic growth, digital literacy, education, health services and infrastructure, and frames engagements as development partnerships structured to be comfortable and beneficial for African partners.