Modi moves for Asia-Africa growth corridor

| Updated: October 25, 2017 00:59:54

Modi moves for asia africa growth corridor

ndian Prime Minister Narendra Modi now pushes for an "Asia-Africa growth corridor" supported by Japan and India – days after China's ambitious OBOR (One Belt, One Road) initiative having taken off.

Declaring the 52nd Annual General Meeting of the African Development Bank group open, which is being held for the first time in the country, Modi Tuesday said, "India's partnership with Africa is based on a model of co-operation which is responsive to the needs of African countries." 

Pushing for a growth corridor between Africa and Asia, reports PTI from Gandhinagar, he disclosed the project was discussed during his recent trip to Japan.

The pitch comes close on the heels of China having launched its multi-billion dollar OBOR initiative, a brainchild of Chinese President Xi Jinping, which aims to connect the Eurasian landmass and Indo-Pacific maritime routes.

"During my visit to Japan and after meeting with Prime Minister (Shinzo) Abe, I gladly recall that in our joint declaration we mentioned Asia-Africa growth corridor and proposed further conversation with our brothers and sisters of Africa.

"Research institutes of India and Japan have come up with vision documents in consultation with African think-tanks on how to take forward this growth corridor," Modi said.

"The idea is India, Japan and other willing partners would explore joint initiative in development of skills, infrastructure, manufacturing and connectivity," he told the meet.

Mr Modi said Africa figured on top of India's priority as a growth pole.

He mentioned that India is the fifth-largest investor in Africa, as in the last 20 years it has invested USD 54 billion.

"Africa-India trade has multiplied in the last 15 years, it has doubled in the last five years to reach near 72 billion dollars in 2014-15," Modi said.


(compiled by Moslem Uddin Ahmed)

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