At the Japan-India-Africa Business Forum, External Affairs Minister S. Jaishankar emphasised India's commitment to fostering mutually beneficial ties with Africa, contrasting this approach with extractive models often seen in other international engagements.

Jaishankar highlighted that India's strategy focuses on capacity-building, skill development, and technology transfer, ensuring that African countries not only benefit from investments but also develop sustainable growth ecosystems.

This approach is reflected in India's significant investments in Africa's infrastructure and connectivity, with over USD 12 billion in concessional credit and more than 200 completed projects across sectors like railways, power generation, and agriculture.

India is currently Africa's fourth-largest trading partner, with bilateral trade nearing USD 100 billion and growing steadily. The country's development projects in Africa have generated local employment and transformed lives by establishing power plants, transmission lines, cement factories, and textile mills.

Jaishankar also noted that India's rapid economic growth positions it as an ideal hub for Japanese companies seeking to expand into Africa and the Middle East. He emphasised the potential for collaboration between India, Japan, and Africa to create beneficial outcomes for all stakeholders by leveraging their complementary strengths.

Furthermore, Jaishankar underscored the importance of India and Japan working together to strengthen resilient supply chains in Africa, particularly in critical and emerging sectors. He believes that their combined efforts can support Africa's development in a sustainable and inclusive manner, contributing to broader global stability and economic progress.

This collaborative approach aligns with Prime Minister Narendra Modi's guiding principles for India's engagement with Africa, which include intensifying engagement, creating local capabilities, and enhancing market access.

ANI