India became fifth largest investor in Africa: President Kovind

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National News

Aug 01, 2019

8:57AM

India became fifth largest investor in Africa: President Kovind

@rashtrapatibhvn

President Ramnath Kovind said that trade and investment ties between India and Africa are growing.

India has become the fifth largest investor in Africa with cumulative investment at over 54 billion US dollars. He was addressing Special Session of National Assembly of Gambia yesterday evening in capital Banjul.

President said African continental Free Trade Area Agreement launched this month will make Africa the largest free trade area in the world.

India views this development as yet another opportunity to boost economic ties with Africa.

He said after South Asia, the African Continent is the largest recipient of Indian overseas assistance. President has promised India's support to Gambia in areas of skills development. Later President participated in a community reception at Banjul.

The event was organised by the Indian community and Friends of India. Addressing Members of the Indian Diaspora he said that just like Mahatma Gandhi the Indian diaspora are the biggest and best ambassadors of India Abroad.

He highlighted India's priority for the Africa region. India is opening 18 new missions, of which seven will be in west Africa. During his two-day visit to Gambia, President had extensive talks with his Gambian counterpart Adama Barrow.

During the delegation-level talks, the two leaders reviewed the entire spectrum of bilateral relations and regional and global issues of mutual interest.