India and Africa have a long-standing history of trade and commerce that dates back centuries. From Indian merchants sailing to the east coast of Africa in search of valuable commodities to the migration of Indian diaspora contributing to the export and import sectors, the ties between these regions have deep roots.
Recognizing the untapped potential of their entrepreneurial ecosystems, the India-Africa Entrepreneurship Forum (IAEF) aims to foster meaningful connections and collaboration. By leveraging the creative capacity of entrepreneurs in both regions, the IAEF aims to address common challenges, accelerate trade, and promote investment opportunities.
Africa, with its combined GDP exceeding $3.2 trillion, boasts six of the world’s fastest-growing economies and presents a vast market for Indian entrepreneurs. In 2023, the continent’s economic growth is estimated to be around 3.2 percent. On the other hand, India’s entrepreneurial ecosystem ranks as the third largest globally, with 57,000 startups valued at $450 billion.
The IAEF has three primary objectives. Firstly, it seeks to bridge the gap between Indian and African entrepreneurs, facilitating collaboration and knowledge sharing. Secondly, it organizes meetings and focus groups to encourage exploration of mutual opportunities and areas of interest. Lastly, the forum aims to facilitate joint ventures and business partnerships, providing capital and market access to entrepreneurs from both regions.
The IA Entrepreneurship & Investment Summit serves as a platform for entrepreneurs, investors, and stakeholders to network, exchange ideas, and explore potential collaborations. Through this summit, the IAEF aims to strengthen economic ties, foster innovation, and promote sustainable development between India and Africa.
By capitalizing on the entrepreneurial spirit and the vast opportunities available, the IA Entrepreneurship & Investment Summit aims to propel India-Africa relations to new heights, unlocking the potential for shared prosperity and growth.
— Africanian News (@africaniannews) July 3, 2023