President Droupadi Murmu has emphasized the need for deeper economic cooperation between India and Algeria during the inaugural India-Algeria Economic Forum. The event took place on Monday and was organized by the Algerian Economic Renewal Council and the Federation of Indian Chambers of Commerce and Industry (FICCI).
In her address, President Murmu stated, “It is time to further strengthen our partnership and impart new momentum towards a new era of cooperation.” She acknowledged the reforms implemented under Algerian President Abdelmadjid Tebboune’s leadership, praising the positive changes occurring in the country.
“I commend the transformative reforms introduced by the Algerian government under his able leadership,” she said, highlighting Algeria’s commitment to inclusive growth and democracy.
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Reflecting on the historical ties between the two nations, President Murmu recalled India’s support for Algeria’s struggle for freedom. She remarked, “Today, India and Algeria are committed to embark on the path of peace and prosperity.”
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The President underscored the growing significance of India-Africa relations, noting that India is now the fourth-largest trading partner of Africa, with bilateral trade reaching $84 billion and investments exceeding $75 billion.
Highlighting Algeria’s economic progress, she noted its four percent GDP growth and the registration of 9,000 investment projects in the past two years. “I encourage our companies to remain engaged and invested in the opportunities that the Algerian economy offers,” she stated.
Addressing the current trade volume between India and Algeria, which stands at $1.7 billion, President Murmu identified untapped potential for further collaboration. She pointed to key sectors such as energy, construction, automobiles, fertilizers, and pharmaceuticals as areas for strengthening ties.
Additionally, she invited Algerian businesses to participate in India’s initiatives, including the Make in India and Make for World campaigns. “India has achieved many accomplishments in areas such as science and technology, fintech, pharma, space, startups, and renewables,” she said. “We would be happy to share our experiences with our Algerian partners.”
President Murmu also commended the Indian community in Algeria for its contributions to various developmental sectors, describing it as a vital link between the two nations.
In her concluding remarks, she reiterated the commitment of both countries to strengthen bilateral relations, stating, “President Tebboune and I firmly believe that it is time that we further strengthen this partnership and impart momentum towards a new era of cooperation.”
This visit is part of President Murmu’s three-nation tour of Africa, which includes stops in Mauritania and Malawi from October 13 to 19. Earlier on Monday, she met with President Tebboune at the El Mouradia Palace and also called on the Speaker of the Council of the Nation.