11, March 2019 11/03/2019 – Posted in: Press Information Bureau – Tags: , ,

14th CII-EXIM Bank Conclave

(Ministry of Commerce and Industry)

 

WHAT

Ministry of Commerce & Industry will be organising the 14th Confederation of Indian Industry (CII)-Export Import (EXIM) Bank Conclave on India-Africa Project Partnerships.

  • Conclave is conducted annually since its inception in 2005.
  • India-Africa partnership in the area of ‘South-South Cooperation’.
  • India-Africa bilateral partnership is augmented by India’s ascendency as the fastest growing major economy.
  • 22% increase in bilateral trade between India and Africa from last year.

INDIA-AFRICA PARTNERSHIP

  • India-Africa bilateral trade volume at 62.66 billion dollars during 2017-18.
  • African economies have contributed to the region emerging as one of the highly attractive global investment destinations.
  • Created private investment opportunities in roads, highways, ports and airports, railroads, power generation etc.
  • Increased demand for manufactured goods and services.
  • Indian companies have invested in Africa in many sectors like agriculture, agro-processing, oil, gas, mining, minerals, education, healthcare, drugs and pharmaceuticals.
  • Enhanced Integrated Framework (EIF) will focus on key challenges and boost cooperation between Indian businesses and African least developed countries.
  • India supports African countries by providing more than one billion dollars in technical assistance and training to personnel under Indian Technical and Economic Cooperation (ITEC) programme.
  • India has committed 7.5 billion dollars to Africa’s infrastructure development.
  • India has also offered duty-free market access to Africa’s least developed countries.
  • Exim Bank of India has extended concessional lines of credit for critical projects in Africa.
  • India has a heavy dependence on fossil fuel imports to meet its increasing energy demand.
  • Africa has become a major source of crude oil imports for India, with Nigeria and Angola.
  • Indian energy majors are playing an instrumental role in large oil and gas exploration and production projects in Africa.

LONG-TERM GOALS AND OBJECTIVES

  • Scaling up India-Africa bilateral trade volume to USD150 billion in the next few years.
  • Encouraging Indian exporters to access the African countries and increase their presence in the region.
  • Enabling geographical and product diversification of Indian exports to Africa.
  • Enhancing manufacturing exports of Africa by optimal utilisation of Duty Free Tariff Preference scheme and capacity building support from India.
  • Expanding Indian investments in areas like infrastructure, agriculture and food-processing, energy, services, IT and knowledge industries.

Source: PIB

 

 

PINAKA

(Ministry of Defence)

WHAT

Defence Research and Defence Organisation (DRDO) successfully test fired the Guided PINAKA. It is equipped with a guidance kit comprising an advanced navigation and control system.

PINAKA GUIDED WEAPONS SYSTEM

  • Pinaka is 70-80 Km range rocket.
  • Pinaka rockets were used in the Kargil War with Pakistan.
  • It is equipped with a navigation, guidance and control kit.
  • Its telemetry Systems tracked and monitored the vehicle all through the flight path.

PINAKA

  • Pinaka is an unguided rocket weapon area framework (WAS) with a range of 40 km. It intended to neutralise large zones with quick salvos.
  • It can fire a salvo of 12 rockets in 44 seconds.
  • Its quick reaction time and high rate of fire are its valuable features.

Source: PIB