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Africa seeks lessons from India`s industrial turnaround
New Delhi, Feb 28: From water pumps to nuclear power plants, India on Friday offered to share with Africa the industrial know-how which has transformed the South Asian nation from one of famines to one with a booming economy.
New Delhi, Feb 28: From water pumps to nuclear power plants, India on Friday
offered to share with Africa the industrial know-how which has transformed the
South Asian nation from one of famines to one with a booming economy.
African officials and business leaders, who have formed a new grouping for technical and economic cooperation between their continent and India, in turn promised a risk-free environment to Indian businesses looking to invest in their nations.
"We know as Africans that India should, must, and I am sure will, play a very important role in the development of Africa," said Pierre Goudiaby Atepa, adviser to Senegalese President Abdoulaye Wade.
The techno-economic approach for Africa India Movement, or TEAM-9, has started off with India and eight West African nations - Burkina Faso, Chad, Cote d'Ivoire, Equatorial Guinea, Ghana, Guinea Bissau, Mali and Senegal - with plans for expansion. Foreign ministers from the member countries will meet Monday in New Delhi.
India says its experiences - including its successes and failures in pursuing economic growth while upholding democratic values - can be used as a guide by poor nations across the world.
"There was a time when we used to wait for food grain to be flown in from other countries, to be offloaded into trucks, to be driven to faraway places and to be distributed to the end-users," Indian Finance Minister Jaswant Singh said this week at a public meeting. "Now we are one of the largest producers and exporters."
From being a nation that faced acute food shortages and threats to its fragile democracy in the wake of independence from Britain in 1947, India has emerged as one of world's growing economies with a stable political system. Bureau Report
African officials and business leaders, who have formed a new grouping for technical and economic cooperation between their continent and India, in turn promised a risk-free environment to Indian businesses looking to invest in their nations.
"We know as Africans that India should, must, and I am sure will, play a very important role in the development of Africa," said Pierre Goudiaby Atepa, adviser to Senegalese President Abdoulaye Wade.
The techno-economic approach for Africa India Movement, or TEAM-9, has started off with India and eight West African nations - Burkina Faso, Chad, Cote d'Ivoire, Equatorial Guinea, Ghana, Guinea Bissau, Mali and Senegal - with plans for expansion. Foreign ministers from the member countries will meet Monday in New Delhi.
India says its experiences - including its successes and failures in pursuing economic growth while upholding democratic values - can be used as a guide by poor nations across the world.
"There was a time when we used to wait for food grain to be flown in from other countries, to be offloaded into trucks, to be driven to faraway places and to be distributed to the end-users," Indian Finance Minister Jaswant Singh said this week at a public meeting. "Now we are one of the largest producers and exporters."
From being a nation that faced acute food shortages and threats to its fragile democracy in the wake of independence from Britain in 1947, India has emerged as one of world's growing economies with a stable political system. Bureau Report