Healthcare demand in Africa would require $ 25-30 billion in next decade: CEO of L&T

Mr R V Kanoria, Past President, FICCI and CMD, Kanoria Chemicals & Industries Ltd said that Africa could answer to the food security needs of the world.

Mr S N Subrahmanyan, CEO & MD, Larsen & Toubro Ltd today while addressing the session on Reimagining Resilient Africa during ‘FICCI LEADS 2020’, said that healthcare demand in Africa would require around $ 25-30 billion new investments in next decade. “This is an absolute necessity, and it will come into play not only via physical infrastructure including health centres, hospitals, better medical facilities but also through digital health connect. L&T will do whatever required to develop the African continent. Africa could be next century’s economic growth engine,” he added.

Mr R V Kanoria, Past President, FICCI and CMD, Kanoria Chemicals & Industries Ltd said that Africa could answer to the food security needs of the world. He said that Africa has developed to attract investments from emerging markets. African countries offer a decent return on investment, loyalty to the relationship and long-term prospect. “The Intra-Africa FTA which has been negotiated and expected to be implemented soon will be of great support to increase India-Africa trade,” he added.

He further suggested that if agricultural land of Africa can be used through G2G mechanism, then India can fulfil the food security need of our nation and the world.

Ms Busi Mabuza, Chairperson, Industrial Development Corporation, South Africa mentioned that COVID-19 has pushed Africa into recession. She added that Africa needs to focus more on the African value chain, education system, infrastructure, financial services, health facilities to become a resilient nation. She also emphasized that Africa should focus on cybersecurity and data privacy.

Mr James Mworia, CEO, Centum Investments, Kenya stated that Resurgent Africa and Rising India can bring prosperity to the world. Globally, the industries are realigning their business strategies and looking for growth regions for market expansion. “Companies should not look Africa as trading or exporting destination but as an investment destination, as they can make profitable investment ventures in Africa,” he added.

Mr R Ganapathi, Chairman, Trigyn Technologies, mentioned that Digital Africa is an opportunity for India and is very important for a resilient Africa and Vibrant Africa going forward in a globally interconnected world. He mentioned that Africa can find India as a trusted and reliable partner in its quest for development.

Mr Vikramjit Singh Sahney, Chairman, Sun International said that resilience is the only way to mitigate the unprecedented impact of the pandemic and to rethink how countries can rebuild stronger economies and societies in the time to come.