India Assists African Countries With A Long Term Plan

By Michael Todd
11:02, April 8th 2008
48 votes
Vote this story
India Assists African Countries With A Long Term Plan

India announced new plans concerning their collaboration with African states. The project involves the investment of hundreds of millions of dollars in different development platforms, in order to step up to their economic rival China and counter their influence in the region.

The collaboration is expected to work as an exchange between India and the interested African states, India offering its knowledge in low-cost services and industry and receiving access to the rich African natural resources and food supplies.

Prime Minister Manmohan Singh stated that political benefits are also considered, this aid helping India for a potential seat on the United Nations Security Council. "No one understands better than India and Africa the imperative need for global institutions to reflect current realities and to build a more equitable global economy and polity," he was quoted saying by Reuters, to the assembled heads of state and ministers, among them South Africa's Thabo Mbeki.

Singh also said that India, in addition to the mentioned efforts, will more than double the line of credit for the African countries and regional economic groups from $2.15 billion in the past five years to $5.4 billion.

Even though China has the upper hand on the African two-way trades with an estimated $73 billion last year, India is looking at their $30 billion last year as being just another step in their carefully assembled economic stratagem looking to double the amount in the following years.

 A two-day summit organized to resolve matters such as the expanding of political ties and economic cooperation, began today and includes leaders from South Africa, Kenya, Egypt, Tanzania, Ghana and Algeria out of the total of 14 participants.



© 2007 - 2008 - eFluxMedia
dotclear

Other News in

Zimbabwe Declares National Emergency

Zimbabwe declared a national health emergency as the cholera epidemic froze the entire health system.  Authorities also asked for help from the international community, as hospitals are running out...

Sarkozy Announced A 26-Billion-Euro Plan For The Country's Economy

Paris - French President Nicolas Sarkozy announced earlier today an investment plan which is worth more than 26 billion euros (32.84 billion dollars). Speaking in the northern French industrial...

"War of crucifix" Questions Catholic Predominance In Spain

Madrid - A decades-old row over whether crucifixes should be displayed in public buildings in a non-confessional state has erupted again in Spain. The recurrence of the "war of the...

Authoritarian Kazakhstan Prepares To Assume OSCE Chairmanship In 2010

Astana/Moscow - When Western politicians speak of Kazakhstan with a gleam in their eyes, they're usually not thinking about the country's political conditions. President Nursultan Nazarbayev has...

Low-Energy Houses Help Austrians To Stop Sending Money Up In Smoke

Vienna - Temperatures may be falling and energy prices are still high, but an increasing number of Austrians living in low-energy houses have little to worry about this winter. Martin Mueller, 40,...

dotclear
Latest videos in World
Mumbai carnage: India's 9/11?
Skating on Red Square
Rice's plea after Mumbai...
Flooded Venice is surfer's...
Workers strike in Russian city

dotclear
World You are here: World
» World   » Business   » U.S.   
E-mail To A Friend Print RSS Text size: Decrease font size Increase font size
dotclear
dotclear
dotclear
Most Popular in World
World AIDS Day Is Here! Get Tested For HIV!World AIDS Day Is Here! Get Tested For HIV!

» read full story
dotclear

Interested In This Topic?

News Alert will keep you informed. Find out more.
dotclear
Photos Gallery
dotclear
Today's Latest News
Fertility Patients In A QuandaryFertility Patients In A Quandary

» read full story
dotclear