Dear Reader,

Greetings. India accords great importance to Africa's economic development, because, both share common interests. Geographically they are close to each other. Besides, India and Africa have traditionally been trading partners for centuries. Today, a resurgent Africa recognizes India's stature as a major power. In its race to catch up with the rest of the world, the vibrant continent needs India's help. And India is ready to render it. As Exim Bank Chairman & Managing Director T.C. Venkat Subramanian aptly summed up the issue some time back, Africa needs Appropriate, Accessible and Affordable technology which India can offer in every field of industrial and commercial activity, apart from the crucial sectors of education, health and knowledge. That was at the first India-Africa Project Partnership Conclave held in 2005, when the business discussed was valued at an estimated US$5 billion. The following months saw hectic follow-up interaction between Indian and African entrepreneur to carry forward their joint ventures to fruition. The Exim Bank, India's catalyst in promoting bilateral trade with Africa, has lent nearly $1 billion to African financial institution to help execute joint venture projects between Indian and African developmental agencies and individual entrepreneurs. No wonder, the business discussed at the 2006 India-Africa Project Partnership Conclave shot up to US $17 billion. The current issue of Indo-African Business carries the 2006 Conclave proceedings and their ramifications as its cover story. Attaining Millennium Goals in the shortest possible time is the task of every African government. In order to execute such a task, a vision is required, which could be materialized only through building capacities in every sector of human endeavour. In an erudite keynote address delivered at a NEPAD workshop on Developing a Capacity Building Strategy for Africa held in Johannesburg recently, South Africa's Minister for Public Services and Administration Geraldine J Fraser-Moleketi emphasizes the importance of linking capacity building to collective strategic vision, policy and planning of governments. The focus of the current issue highlights Ms. Fraser-Moleketi's address. Like India, South America too shares similar interests with Africa. Both regions held their first-ever Africa-South America Summit, pledging support to each other's developmental efforts and to promote bilateral trade. We carry a detailed report on the Summit's declaration. The most enchanting aspect of Africa is its un-diminishing attraction for tourists. Each country has its fascinating facets of tourism. We highlight the best of Ethiopia, Sudan and Cameroon in the current issue. Along with the regular French section, the issue carries our usual features as well.
Wish you happy reading,

Satya Swaroop
Managing Editor
satya@newmediacomm.biz