India and africa must focus on mutual benefits
That the African Development Bank chose India for its annual meeting, in the fourth time the meet has been held outside Africa, is an indication of the promise and hope of India-Africa partnership and the historically cordial ties India has with many post-colonial African states, notwithstanding much bigger investments in the region by China. India became a member of the African Development Bank in 1983, but it took another 30 years to move the partnership forward. This slow pace is emblematic of India’s African engagement. Though the fifth-biggest investor, India accounts for $54 billion, or 19.2 per cent, of Africa’s foreign direct investment. In 2015-16, bilateral trade was at $56.9 billion. Increasing its investment and presence in Africa will require India to improve the pace of decision-making. It is not enough to extend generous lines of credit. Improving pace of project implementation is another area New Delhi must focus on, to overcome a reputation for scant ability to meet contractual obligations. Finance minister Arun Jaitley described the Indian approach as demand-driven and free of conditions. To this end, India needs to align its efforts with Africa’s goal to diversify away from natural resource dependence. This one factor would set India apart from China and the EU. New Delhi must ensure job creation and building local capacities on the continent, while diversifying its investment destinations beyond five or six countries in Africa. PM Narendra Modi and his administration have made the case for a deeper partnership with the African continent, and that India’s version of partnership focuses on needs identified by African countries. Africa is listening, but what the partnership now requires is to gain speed and efficiency. Perhaps India could emulate Africa’s famed long-distance runners.
Tone the rhetoric down on arunachal
Apr 07, 2017
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