Prime Minister Manmohan Singh today announced duty-free preferential market access to exports from Least Developed Countries, including 34 such nations in mineral and oil-rich Africa where New Delhi seeks to expand the level of its engagement. Inaugurating the first India-Africa Forum Summit here today, he said that under the Duty Free Tariff Preference Scheme for LDCs, India will unilaterally provide preferential market access for exports from all 50 such nations. Heads of States and Governments of the African countries appreciated the announcement and said it would boost the much-desired engagement between the sides. The scheme will cover 94 per cent of India’s total tariff lines, specifically providing preferential market access on tariff lines that comprise 92.5 per cent of global exports of all LDCs, he said. The products covered include cotton, cocoa, aluminium ores, copper ores, cashew nets, cane sugar, ready made garments, fish fillets and non-industrial diamonds.The Prime Minister said that the initiative was being announced as India recognises the crucial importance of market access in ensuring the development dimension of international trade. Declaring India’s intention to reach out to “mother-continent” Africa, Singh also announced a number of initiatives for it, including increase in India’s Lines of Credit to $5.4 billion over the next five years from the $2.15 billion extended between 2003 and 2008.He emphasised India’s commitment to partner Africa in its developmental objectives while announcing the decision to undertake projects against grants in excess of $500 million over the next five to six years. “Our cooperation must actively co-opt trade and industry in the processes of growth and development in Africa,” the Prime Minister told the leaders of the African nations. Developing infrastructure in railways, information technology, telecom and power generation and physical connectivity would be a priority, Singh said.Singh announced the doubling of long-term scholarships for under-graduates, post-graduates and higher courses and increase in number of training slots under technical assistance programmes from 1,100 to 1,600 every year. He also proposed the creation of an India-Africa Volunteer Corps that is devoted to development work, particularly in public health, informal education and women’s empowerment.“India wishes to see the 21st century as the century of Asia and Africa, with the people of the two continents working together to promote inclusive globalisation,” he told the leaders from 14 countries. “Events in India and Africa in the middle of 20th century changed the world. Today, we have a second chance to take charge of our own destiny and give a new meaning to the concept of sustainable, equitable and environment-friendly development,” he said.The 53-nation African Union, particularly leaders from South Africa, Uganda, Congo, Ghana, Senegal and Zambia, sought cooperation on a mutually-beneficial and equitable basis for a win-win situation.
