Dear
Reader,
Greetings. We
are delighted
to inform you
that Indo-African
Business magazine
is celebrating
the fifth anniversary
of its publication.
We are doubly
happy that the
anniversary
coincides with
the Fifth India-Africa
Project Partnership
Conclave, being
held in Delhi
from 22 to 24
March, 2009.
Since its launch
in 2004, Indo-African
Business, published
in association
with Export-Import
Bank of India,
has consistently
strived to promote
bilateral trade
between India
and Africa.
During the same
span of five
years, Exim
Bank, along
with Confederation
of Indian Industry
(CII) and the
Union Ministry
of Commerce
and Industry,
has been organizing
India-Africa
Project Partnership
Conclaves, the
fifth edition
of which is
being held this
month as mentioned
earlier. Over
the years, the
two-way trade
between India
and Africa rose
from $5 billion
in 2001-02 to
an estimated
$30 billion
in 2008-2009.
The cover story
of the current
issue sums up
the overall
impact of these
conclaves in
promoting project
partnerships
between Indian
and African
companies, banks
and government
agencies. South
Africa today
stands as a
model economy
for the rest
of the African
nations. A South
African business
delegation,
led by Deputy
Minister of
Trade and Industry
Elizabeth Thabethe,
recently visited
India. She participated
in investment
seminars held
in Bangalore,
where South
Africa was a
Country Partner
at the CII-sponsored
International
Engineering
and Technology
Fair (IETF)
and later in
a similar meet
in Mumbai, where
it was pointed
out that bilateral
trade between
India and South
Africa could
be doubled from
the present
$6 billion to
$12 billion
by 2012. We
cover Ms Thabethe’s
visit in our
Focus section.
This section
also carries
an in-depth
report by Navdeep
Suri, Indian
Consul General
in Johannesburg,
on the opportunities
existing in
South Africa
for Indian companies
in the fields
of mining, power,
textiles and
engineering
for setting
up joint ventures.
Exim Bank, as
a catalyst in
promoting projects
in Africa involving
Indian companies,
has come up
with a study
highlighting
the contribution
of sectors that
have helped
Africa maintain
sustained growth.
We carry it
in our Perspective
section. The
magazine is
also carrying
two more write-ups
on Exim Bank
- one on its
role as a catalyst
in promoting
bilateral trade
and the other
on the various
Lines of Credit
(LoCs) that
the Bank has
granted to various
African agencies
to carry out
project promotion
in that region.
Then there is
an independent
study by the
Confederation
Danish Industry
(CDI) on Africa
which stressed
that only private
sector can create
jobs in that
continent. We
are featuring
FirstRand Group
in this issue
following the
launch of their
operations in
India as a full-fledged
commercial bank.
We wish FirstRand,
the pride of
Africa, all
the best. Then
there is a detailed
report on investment
opportunities
available in
Uganda. The
issue contains
the usual French
section besides
all other regular
features.
Wish you happy
reading
Satya
Swaroop
Managing
Editor
satya@newmediacomm.biz
