Harish Gupta | Monday, May 23, 2011
http://www.dnaindia.com/world/comment_a-bend-in-the-african-river-gives-indian-sails-a-friendly-push_1546451
India’s “look Africa” policy has started paying rich dividends and the second India-Africa Forum Summit, beginning in Addis Ababa, is a major milestone.
With Prime Minister Manmohan Singh travelling to Addis Ababa on May 23, offering $5.50 billion for the African continent’s development and rolling out free-trade agreements, a new chapter is being written. China’s aggressive investments in Africa, pegged at nearly $50-60 billion over the next ten years, have however caused some jitters.
But a trip to Senegal, Ghana and Nigeria recently has left me in no doubt that India still has the edge over China. Even Indian private entrepreneurs who made deep inroads in London, Washington and other European capitals and had failed to look towards this under-developed, untapped, mineral-rich continent, have started making a bee-line with investment proposals. Airtel’s aggressive entry into 16 African countries and efforts to takeover MTN has changed the entire perspective.
http://www.dnaindia.com/world/comment_a-bend-in-the-african-river-gives-indian-sails-a-friendly-push_1546451
India’s “look Africa” policy has started paying rich dividends and the second India-Africa Forum Summit, beginning in Addis Ababa, is a major milestone.
With Prime Minister Manmohan Singh travelling to Addis Ababa on May 23, offering $5.50 billion for the African continent’s development and rolling out free-trade agreements, a new chapter is being written. China’s aggressive investments in Africa, pegged at nearly $50-60 billion over the next ten years, have however caused some jitters.
But a trip to Senegal, Ghana and Nigeria recently has left me in no doubt that India still has the edge over China. Even Indian private entrepreneurs who made deep inroads in London, Washington and other European capitals and had failed to look towards this under-developed, untapped, mineral-rich continent, have started making a bee-line with investment proposals. Airtel’s aggressive entry into 16 African countries and efforts to takeover MTN has changed the entire perspective.
