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  • DAILY CURRENT AFFAIRS:17th CII Exim Bank Conclave on India - Africa Growth Partnership starts in New Delhi

17th CII Exim Bank Conclave on India - Africa Growth Partnership starts in New Delhi

Tags: Summits Economics/Business

The 2 day (19 and 20 July 2022) 17th  CII(confederation of Indian Industries) Exim Bank Conclave on India - Africa Growth Partnership started in New Delhi on 19 July 2022.

The conclave was inaugurated by the Director -General of CII, Chandrajit Banerjee.

The conclave will focus on project exports, trade, investments, exchange of knowledge and expertise creating shared value for business and industry at large between India and Africa.

A total of 22 African countries are participating in the conclave. 

The focus countries of the conclave are Zambia, Namibia and Gambia.

The theme of the conclave is: Creating Shared Futures 

The Union Commerce and Industry minister, Piyush Goel attended the inaugural session of the conclave.  While addressing the conclave he said that India is willing to help and strengthen partnership with African countries in four fields of defence sector, solar energy, digital and physical infrastructure and start-up ecosystem.

CII- EXIM Bank Conclave on India-Africa Growth Partnership 

  • The CII- EXIM Bank Conclave on India-Africa Project Partnership was launched in the year 2005 with the support of the Ministry of External Affairs and the Ministry of Commerce & Industry, Government of India.
  • To emphasize the broader aspect of India Africa economic relationship, the conclave name was changed to CII- EXIM Bank Conclave on India-Africa Growth Partnership in 2022.
  • The main aim of the Conclave is to encourage Indian companies to establish and grow their business and investment in Africa.

Important for Exams 

Export -Import Bank of India (EXIM Bank)

Exim Bank was established by the Government of India, under the Export-Import Bank of India Act, 1981.

It started its operation in March 1982.

Function of the Bank 

  • It provides loans to foreign company, government etc. to buy goods and services from India 
  • It provides loans to the Indian exporter companies to import technology and products so as to make goods and sell them to foreign countries, boosting exports from India.

Headquarters of EXIM Bank: Mumbai 

Managing Director:  Ms. Harsha Bangari 

Confederation of Indian Industries (CII) 

It is a business lobby group of top business houses in India.

It was set up in 1895.

 It works to create and sustain an environment conducive to the growth of industry in India, partnering industry and government alike through advisory and consultative processes.

Headquarters: New Delhi

President: Sanjiv Bajaj

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