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May 21st, 2011
Indian Investments in Africa Touches US $ 33 Billion

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Shri Anand Sharma Union Minister for Commerce & Industry expressed hope that the ongoing ‘India Show’ will be a unique opportunity for the African businesses to deepen and strengthen existing ties and forge new linkages with Indian companies. Shri Sharma inaugurated India Show at Millennium Hall, Addis Ababa today.

The theme of the show is “Africa & India: Partners in Progress – Friends Forever”. Shri Sharma is leading the Indian delegation as part of the build-up to the 2nd ‘Africa-India Forum Summit’ scheduled on 24-25th May, 2011. He also released a special publication entitled ‘India-Africa Business Guide’ during the Inaugural session of the India Show. Speaking on this occasion Shri Sharma said, ”India has become one of the leading investors in African countries, with Indian investments in Africa in Joint Ventures and wholly owned subsidiaries touching US $ 33 billion mark, covering diverse sectors like Oil & Gas, Pharmaceuticals, Petrochemicals, IT, Fertilizers, Infrastructure, etc”.  Read More