Business
By Lucy Ogalue
INDIA can play a major role in supporting Africa’s growth and development, Aparna Bhatia, adviser, Department of Economic Affairs in the Ministry of Finance, government of India, has said.
Bhatia made this known during the Africa-India Partnership Day, a side event at the just ended African Development Bank, AfDB, 2023 Annual Meetings in Sharm El Sheikh, Egypt.
”India is highly experienced in the manufacturing of electric vehicles, renewable energy, among others and is willing to share her experience with countries on the continent.
“We have many experiences in renewable energy and manufacture of electric vehicles and are willing to share this experience. We will try to explore more partnerships in Africa.”
“India’s growth has largely been due to the support of government policies.
“For Africa to achieve its desired growth there is a need to push for more sustainable energy. Also the need to mobilise climate finance on the continent cannot be overemphasised,’’ she said.
Also, Mette Knudsen, executive director of Nordic and India, AfDB Group, reiterated that Africa needed $200 billion dollars to close climate finance annually.
Knudsen recognised the need for Africa to address its perceived high risk and advocated for more private sector investment in the continent.
“we need to find ways of inputting innovative financing, establishing not only bilateral but trilateral relations such as Europe-India Africa to support the continent.
“This will enable Africa to benefit; it will support production and value addition in Africa. And we need governance financing technological development to boost Africa.
On his part, Mohan Singh, executive director, Premier Energies of India, said a lot needs to be done to uplift the standard of life of the people.
“We look forward to doing a lot of projects in Africa and are open to providing lots of business opportunities for the private sector in Africa,’’ Singh said.
The News Agency of Nigeria (NAN) reports that the AfDB’s 2023 Annual meetings started on May 22 and ended Friday, May 26.
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Tags: Lucy Ogalue Mette Knudsen
