More than 700 business, government and civil-society leaders, including five heads of state or government, deliberated on inclusive growth and competitiveness at a three-day India Economic Summit, organized by World Economic Forum (WEF) & Confederation of Indian Industry (CII) from November 4 – 6, 2014.
Overseas Infrastructure Alliance (OIA) was invited by WEF to share its experience of developing infrastructure projects in Africa with heads of states and industry leaders. At the session titled "Serving the New Global Consumer: Africa-India Cooperation", OIA Executive Director, Mr. AmbujChaturvedi, was featured as a key speaker.
The important dignitaries present at the session included HE Paul Kagame, President of Rwanda; HE Daniel Kablan Duncan, Prime Minister of Cote D'Ivoire; included Vice President of Ghana, Hon'bleKwesiAmissah Arthur; other senior ministers; representatives of government of India and Indian industry.
Mr. AmbujChaturvedi spoke about the need for creating an enabling environment for private industry. He emphasized the need for greater travel and trade between the two regions. MrChaturvedi underlined the need for investment in creating integrated the global value chains. This would to be connect the world with Africa; countries within the continent and markets within countries. MrChaturvedi also argued for creating many smart cities to ensure even development of urbanization in Ivory Coast.
Several members of the audience and the dignitaries endorsed the view that the African consumers can't be served without public private partnership that creates strategic infrastructure to reduce cost of production and delivery.
The leaders of African countries present at the session sought deeper partnership with Indian industry. They asked Indian industry to keep a long term perspective with clear focus for each country.
MrChaturvedi championed the cause of manufacturing in Africa, by Africa, for Africa. This slogan encapsulates the aspirations and needs of an increasingly dynamic continent.
This thought also resonates well with campaign of "Make in India" launched by Prime Minister NarendraModi. Each developing region must create its own infrastructure to ensure the growth of its people.
The agenda of the Modi government was articulate in the plenary session of WEF Summit by Minister of Finance ArunJaitley. He confirmed his commitment to wide-ranging reforms by the Modi team. The government is moving forward with policies aimed at putting the economy back on an 8%-plus growth trajectory. "People sensed that there is a new agenda, as well – a business-friendly agenda."