Africa has emerged as important trade and investment destination: President Murmu

PTI, Oct 17, 2024, 6:08 PM IST

President Droupadi Murmu on Thursday said Africa has emerged as an important trade and investment destination, highlighting that there are growing investments by Indian companies in the continent in a range of sectors including telecommunications, IT, education and petroleum among others.

Addressing the India-Malawi Business Meet here, Murmu said she was happy to be the first Indian President to visit Heart of Africa.

“Africa has emerged as an important trade and investment destination,” said Murmu, who arrived here earlier in the day on the final leg of her three-nation visit.

She is the first Indian Head of State to visit the African nation.

The President said there are growing investments by Indian companies in multinational and small and medium enterprises in Africa in various sectors, including telecommunications, IT, education, water treatment and petroleum.

Noting that India was the first country to establish diplomatic relations with Malawi soon after its Independence in 1964, she said commercial ties between the two countries are historic. But people-to-people contact between the two countries spans over 140 years, she added.

“Bilateral trade between India and Malawi has been growing despite the Covid pandemic-induced downturn,” she said.

“India is currently the fourth largest trading partner of Malawi, and it is also one of the largest investors in Malawi, with over USD 500 million worth of investment in various sectors,” she added.

Underscoring that Malawi is rich in natural reserves and fertile agricultural land, and India has a large consumer base with increasing demand for energy, minerals and food, she said the two counties can “come together to find synergy in many areas.” She added that there is scope for enhancing cooperation in the areas of agriculture, mining, energy, etc.

The President also noted that this year marks the 60th anniversary of the establishment of diplomatic relations between India and Malawi.

During her two-day visit, she will hold bilateral talks with Malawi’s top leadership and address the diaspora.

Upon her arrival at the Kamuzu International Airport here earlier in the day, she was received by the Vice President of Malawi Michael Usi, and was accorded a ceremonial welcome.

“In the final leg of her three-nation visit, President Droupadi Murmu landed at the Kamuzu International Airport, Lilongwe, Malawi,” her office said in a post on X.

Children greeted President Murmu at her arrival at the airport, and a traditional cultural performance was also presented before her, her office said.

“This is the first-ever State visit from India to Malawi,” the Ministry of External Affairs said in a post on X.

Murmu is visiting Malawi from October 17-19 at the invitation of the Malawian President Dr Lazarus McCarthy Chakwera.

During her visit, Murmu “will hold bilateral meetings with Malawi’s leadership; interact with key trade and industry leaders and the Indian diaspora; and visit places of cultural and historical significance,” the MEA said in a press release before her visit.

The President arrived here after successful visits to Algeria and Mauritania, where she held talks with her respective counterparts to enhance bilateral ties.

Addressing the diaspora in Mauritania, Murmu emphasised India’s goal of becoming a developed nation by 2047 and acknowledged the crucial role of the Indian diaspora in achieving this vision.