Dear
Reader,
Greetings. India's
involvement
in Africa's
overall economic
development
is getting deeper
and deeper.
It is good news
for Indian industry
and trade. Recently,
India collaborated
with UNIDO (United
Nations Industrial
Development
Organization)
to host a conference
on Africa, with
focus on investment
in industry
and trade. The
five-day conference
held in September
2007, had entrusted
the task of
drafting an
action plan
to UNIDO's Centre
for South-South
Industrial Cooperation
(UCSSIC). The
cover story
of the current
issue of Indo-African
Business highlights
the critical
importance of
investment to
spur and sustain
industrial development.
The focus of
the issue is
on evolving
a plan for developing
the African
pharmaceuticals
industry. Work
has already
begun on this
front and the
first meeting
of a technical
committee drawn
from leading
African countries
was recently
held in the
Ethiopian capital
of Addis Ababa
to finalize
the phase II
of the pharmaceuticals
manufacturing
plan. Infrastructure
is more crucial
to African development
than any other
issue at the
moment. Africa
needs massive
doses of investment
in infrastructure
to facilitate
overall economic
growth. Recognizing
this fact, European
Union held a
conference on
infrastructure
recently in
Addis Ababa
on the issue
of creating
and sustaining
regional networks
and services.
We carry a report.
Indian industrial
lobbies such
as the Confederation
of Indian Industry
(CII) have foreseen
the immense
potential that
Africa holds
for investment.
CII is sending
a business delegation
to Tanzania
and Uganda to
explore the
opportunities
for industrial
collaboration
with companies
in those countries.
The Indian pharmaceuticals
industry is
well aware of
the investment
avenues that
Africa offers
and is targeting
that continent
for exports
as well as for
setting up joint
ventures. We
carry a couple
of reports,
one on the strengths
of the Indian
pharmaceuticals
industry and
the other on
how opportunities
in Africa are
beckoning Indian
companies. The
Export-Import
Bank of India
has been playing
the role of
a catalyst in
facilitating
Indian companies'
involvement
in Africa's
development.
This fact can
be established
by the sheer
number of Lines
of Credit (LOCs)
that Exim Bank
has signed with
different African
countries. So
far, Exim Bank
has signed 80
LOCs with as
many countries
adding up to
an aggregate
loan commitment
of $2.7 billion
which could
ultimately benefit
the export of
Indian capital
goods and services.
We highlight
Exim Bank's
latest LOC commitments
in the current
issue, which
also covers
all our regular
features.
Satya
Swaroop
Managing
Editor
satya@newmediacomm.biz
