Mr. Praveer Tripathi, the President of the CII India Business Forum (IBF) in South Africa, addressed business leaders at the Annual General Meeting.

Mr. Praveer Tripathi, President of the CII India Business Forum (IBF) in South Africa, addressed business leaders and diplomats from various African and South American countries at an event hosted by IBF on the outskirts of the BRICS Summit, set to commence on Wednesday.

The event, themed “Harnessing Synergies: India-Africa Cooperation for Prosperity in the BRICS – African Continental Free Trade Area Secretariat (AfCFTA) Landscape,” focused on the intersection of India-Africa collaboration within the context of BRICS, a bloc comprising Brazil, Russia, India, China, and South Africa, united in their pursuit of economic growth, innovation, and sustainable development.

The African Continental Free Trade Area (AfCFTA), an innovative initiative seeking to establish a unified marketplace for goods and services across the African continent, offers an unprecedented opportunity for intra-African trade and socio-economic progress. The convergence of BRICS and AfCFTA holds immense potential for creating unparalleled possibilities, as per Tripathi’s statement.

Tripathi emphasized that the collective strength of the BRICS nations can significantly bolster the developmental initiatives undertaken by India and Africa. He highlighted India’s active participation within BRICS and Africa’s commitment to AfCFTA as a foundation for a journey of collaborative advancement and mutual progress.

Pointing out the historical collaboration between India and African nations spanning trade, investment, and capacity building, Tripathi underscored the potential for innovative technological solutions, diversified trade, and improved connectivity through these cooperative efforts.

As the host of the 15th Brics Summit and a member of both BRICS and the African continent, South Africa stands at a strategic juncture to serve as a pivotal catalyst for harmonizing synergies between India and Africa, facilitating transformative processes.

Tripathi also outlined several sectors where India’s expertise could benefit African nations. He highlighted India’s technological capabilities in bridging the digital divide for enhanced access to education, healthcare, and financial services. Collaborative research and innovation, according to him, could provide sustainable solutions to shared challenges like climate change and healthcare accessibility.

Drawing attention to Indian companies in South Africa, Tripathi mentioned the pharmaceutical industry’s contribution, supplying essential retrovirals and tuberculosis medicines to South Africa, along with offering cost-effective generics options.

He further detailed Indian Foreign Direct Investment (FDI) in South Africa and across the African continent, showcasing the positive impact on job creation and diverse sector investments.

Tripathi concluded by underscoring the overarching theme of “Harnessing Synergies: India-Africa Cooperation for Prosperity in the BRICS – AfCFTA Landscape” as a representation of a shared vision for growth, innovation, and collaboration. Through strategic partnerships, inclusive policies, and collective determination, he believes that a boundless path towards prosperity can be forged.

The CII India Business Forum (IBF) represents 63 Indian corporations, primarily based or headquartered in Gauteng province, the economic hub of South Africa.

Article: S. Singh

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