News & Events

Ankita Yadav from the Commonwealth Chamber of Commerce attended the milestone 20th CII India-Africa Business Conclave in New Delhi, where it was announced that India-Africa bilateral trade has crossed the historic US$100 billion mark for the first time. The landmark event, hosted by the Confederation of Indian Industry (CII) in collaboration with the Ministry of External Affairs and the Ministry of Commerce and Industry, brought together over 1,600 delegates from 64 countries, underscoring a strategic shift in South-South cooperation.

The three-day conclave highlighted the deepening economic partnership between India and Africa, with Indian Union Minister Kirti Vardhan Singh noting that bilateral trade volume has nearly doubled in five years.

India has extended concessional loans worth over US$12 billion and provided US$700 million in grant assistance for projects across Africa. To further strengthen ties, India has offered 50,000 scholarships to African youth, with more than 42,000 already utilised. The event not only celebrated economic achievements but also reinforced a comprehensive approach to cooperation, setting the stage for future growth and collaboration between the two regions.

In a move to rebuild their strained relationship, India and China have agreed to resume direct flights and step up trade and investment flows between the two neighbours. The agreement came during Chinese Foreign Minister Wang Yi’s two-day visit to New Delhi for talks with Indian National Security Adviser Ajit Doval.

The two countries will also reopen border trade at three designated points and facilitate visas, according to the Indian Foreign Ministry. The direct flights, which were suspended during the COVID-19 pandemic in 2020, are expected to resume, although no specific timeline has been provided.

The latest discussions also covered issues related to troop withdrawal, border delimitation, and boundary affairs. Both sides agreed to set up a working group to coordinate on border affairs and advance demarcation negotiations, with another round of talks on the western section to be held soon.

The agreement to enhance economic and diplomatic ties comes against the backdrop of the two countries’ border dispute, which led to a deadly clash in 2020. The leaders of the two nations have emphasised the need for “stable, predictable, and constructive” relations, recognising their importance for regional and global peace and prosperity.

Read the original article here: https://www.msn.com/en-us/money/companies/india-china-agree-to-resume-direct-flights-boost-business-links/ar-AA1KPWvq?ocid=BingNewsVerp

In a move to bolster its security ties with Vanuatu, a Pacific Island nation, Australia is set to provide AU$120 million (US$79 million) for the development of two data centres in the capital of Port Vila and on the island of Santo. This funding is part of a broader “Nakamal Agreement” between the two countries, under which Australia will invest a total of AU$500 million (US$330 million) in various projects over the next decade.

The data centre initiative aims to strengthen Vanuatu’s digital infrastructure and connectivity, following the country’s recent rollout of 5G coverage. The agreement also covers areas such as climate resilience, key infrastructure, security support, and economic development. This investment comes as Australia seeks to solidify its position as a security partner for Vanuatu, following a previous agreement that was scrapped in 2022. The move is seen as a response to China’s efforts to court the island nation.

Read the original article here: https://www.datacenterdynamics.com/en/news/australia-to-help-fund-two-data-centers-in-vanuatu-island/