SUMMARY

SUMMARY ON AFRICA AN EMERGING ECONOMY

BY NISHIT SHAH BATCH A COMMUNICATION 3

 Big market for Trade & Investment.  FTA (Free Trade Agreement) between African regions & India :A logical step.  World Bank Five year Strategy plan for Africa to play better role globally.  As being an large base of resource , China is engaging its activity with Africa on large scale.  India need to develop sustainable partnership with Africa to enhance capability and capacity for both sides.  Role of Private sector is making its long way for development of its economy.  FDI ( Foreign Direct Investment) is greater than FDI in India.  Indian Companies are in forefront for investing in African Countries.  Bharti Investment in South Africa is an example of Indian companies, to build its partnership with African countries.  Marshall Plan is being made for financing constraint to reach Millennium Development Goals (MDG).

 For developing FTA model African Region should negotiate with sub regions rather then individual countries.  Sub Regional Groupings are South Africa , Kenya and Nigeria.  Collaboration from education to agriculture and technology to investment.  Such agreement will help India to build a good partnership with Africa to make economies better and globally.  India should provide medium and long term strategy for economic engagement with Africa.