'India, Africa hold the key to global recovery'

New Delhi, Mar 15: At the 6th CII-EXIM BANK Conclave on India Africa Project Partnership 2010, External Affairs Minister SM Krishna and Minister for Commerce & Industry, Mr Anand Sharma spoke on the importance of sustaining and further strengthening the Indo-African ties.

In his inaugural speech, Mr Krishna said that the Indian private corporate sector has a key role in supporting the Government of India"s capacity building and skills development initiatives in Africa.

Besides this, he also spoke on the Joint Action Plan which made at the first India Africa Forum Summit held in 2008. It has laid great emphasis on India extending its technical expertise and financial support toward building human capital in the African countries, the minister said adding that the Plan is also directed to support the African governments in fulfilling their Millennium Development Goals (MDGs).

Promising that the Indian government will steadfastedly fulfil the financial commitments made to further Africa"s development programmes, the minister also spoke on the revival of annual 'Africa Day' lecture and that India-Africa cultural exchanges to boost cultural exchanges.

Giving his keynote address, Mr Sharma stated that India and Africa have a major say in the emerging global economic order as the economic strengths of the two regions come to the fore in the aftermath of the global economic meltdown. The two countries also hold the key to global economic recovery, he added.

He also expressed confidence that the two countries' accelerated growth will wipe out problems such as poverty.

Indian and African governments and industry should strive to establish the essential linkages to spur development, the minister said taking Pan Africa eNetwork project is an example of this linkage.

Apart from saying that that the prospects are bright in the trade and investments front, the minister said that vibrant India and a resurgent Africa should strive for the reforms of the international organisations and Brettonwoods institutions.

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