The summit, which begins on October 26, will have representatives from 54 African nations participating in it in New Delhi. Heads of state and government of around 40 countries and powerful African Unions are expected to participate in the four-day India-Africa Summit.
The summit will ensure that African nations and India will engage more intensively for a better future.
In a series of tweets, the PM said India’s engagement with Africa had been scaled up and trade too was growing remarkably.
“India is proud to host @indiafrica2015. The Summit reflects India & Africa’s desire to engage more intensively for a better future,” PM Modi said on twitter.
“India’s relations with Africa are historic. India is a major investor in Africa & trade has been growing remarkably in recent years,” PM Modi said.
“Level of engagement for @indiafrica2015 has been tremendously scaled up. Several African leaders will join us….In run up to @indiafrica2015 many events are being organised to promote friendship & trade,” said the PM in a series of tweets.
The main agenda of the summit will be to step up trade ties, particularly in the oil and gas sector. Strengthening maritime cooperation and lifting the overall engagement between the two sides will also be on the summit’s agenda.
As of now, India’s trade with Africa is estimated to be USD 75 billion. India has implemented a total of 137 development projects in 41 African countries in the last four years which are worth a whopping USD 7.4 billion.
Expanding trade ties will be a major focus area at the summit which will see participation of over 400 business delegates from Africa besides all major Indian chambers of commerce.
A large number of African countries including Tanzania, Sudan, Mozambique, Kenya and Uganda have huge oil and gas reserves and India intends to invest in the sector to fuel its economic growth.
(With inputs from PTI)