India-Algeria Economic Cooperation: President Murmu's Call

Algiers, Oct 15 (PTI) President Droupadi Murmu has called for deeper economic cooperation between India and Algeria, underlining the African nation's rapid growth and expanding economy offer many opportunities in various sectors.

The President in an address to the Algerian-Indian Economic Forum on Monday emphasised India's rapid rise and impressive progress in ‘Ease of Doing Business', and invited Algerian companies to join India's ‘Make in India' and ‘Make for the World' initiatives.

"The stepping up of the India-Algeria relations is based on our shared values, common challenges, and mutual trust," Murmu said at the event jointly organised by the Algerian Economic Renewal Council and the Federation of Indian Chambers of Commerce and Industry (FICCI).

The President said Algeria's rapid growth and expanding economy offered many opportunities in various sectors and urged Indian companies to remain invested in the scope the Algerian economy presented, a statement from the President's Office said.

Noting that overall trade between India and Algeria stood at USD 1.7 billion, the President said the economic ties between the two countries have, however, not been able to tap its full potential, adding that India would be happy to share its experiences with its Algerian partners.

Earlier in the day, the President addressed the members of the Indian Community here and commended their contribution to Algeria's economy.

"The Indian community in Algeria is a bridge taking forward India's interests and soft power," the statement quoted the president as saying.

Murmu on Sunday arrived here on the first leg of her three-nation visit, making it the first-ever tour by an Indian Head of State to deepen India-Africa ties.

The President will later travel to Mauritania and Malawi.