Africa no longer a dumping ground and source for cheap raw materials: High Commissioner of Nigeria in India
4 December, 2017
The idea that Africa is a source of cheap raw materials and a dumping ground is over, said High Commissioner of the Federal Republic of Nigeria in India, His Excellency Chris Eze. He was speaking at ASSOCHAM’s 4th India-Africa Trade and Investment Forum 2017 at New Delhi. Citing that Nigeria had jumped 24 places in the rankings for ease of doing business, he urged businessmen to ignore negative coverage. He also warned that Indian companies must avoid the deliberate lowering of standards. High Commissioner of Rwanda in India, His Excellency, Ernest Rwamucyo stressed that trade with India, is skewed being raw material oriented. Exports from India to Africa, however, are value-added products. He thus invited entrepreneurs to set up profitable businesses in Africa which would also narrow this gap. to specific challenges, he said these must be seen as opportunities. Director, Indian Institute of Foreign Trade, Manoj Pant said that looking at African countries from only the natural resource point of view is short-sighted. Skilling and trade in fragmented commodities are two areas which need development as the long-term prospects were strong. This is because, given the rate of technological advancement, natural resources like oil and human labor will soon become obsolete. Ambassador of the Republic of Tunisia in India, His Excellency, Nejmeddine Lakhal, highlighted the shared objective of India and Africa for creating sustained development. He thus urged Indian and Japanese companies to ‘Make in India’ as well as ‘Make with Africa’. The event saw the release of a publication titled “Africa: Opportunities for Trade, Investment and Triangular Cooperation (India- Japan- Africa)”. Awards for the winners of the India Africa Champion in Biz Awards 2017 and SME’s Awards 2017, were distributed by the union Minister of Minority Affairs, Mukhtar Abbas Naqvi. Other dignitaries at the event included Joint Secretary (Africa and WANA), Department of Commerce, Ministry of Commerce and Industry- Manoj Kumar Dwivedi; MD, Mitsubishi Heavy Industries India Pvt. Ltd.- Kazunori Konishi; Director, JETRO- Reiko, Furuya; Group Director, Prasaditya Group- Smitha Rohit Prasad; Senior Managing Committee Member, ASSOCHAM and Chairman, SMC Group, SC Aggarwal; Advisor ASSOCHAM, Dr Arvind Kumar; Chairman, ASSOCHAM India -Africa Business Promotion Council, Ambuj Chaturvedi and Secretary General, ASSOCHAM- D.S. Rawat, amongst many others.