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India plans to assist Africa in building capacity for stock market development in that continent, a top Finance Ministry official has said.
“For this purpose, a detailed action plan with a flexibility to scale up in future depending on the requirements of African region is being chalked out,” Mr R. Gopalan, Economic Affairs Secretary in the Finance Ministry, said at the 7{+t}{+h} CII-Exim Bank Conclave on India Africa Project Partnership 2011.
Mr Gopalan said that Africa requires strong and vibrant capital markets. “Capital market, especially stock markets, are essential for mobilisation of financial resources for development of private sector.”
“With a strong and robust private sector, African countries can generate sustained economic growth and create jobs that are the need of the hour,” he added.
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