· Prime Minister Narendra Modi says Africa is still being left behind by current global development systems.
· Africa holds 30% of the world’s minerals, but WTO chief says the continent earns very little from them.
India’s Prime Minister Narendra Modi has called for a major rethink on how the world develops, and warned that Africa is paying the price for an unequal system.
Speaking at the G20 Leaders Summit at the Nasrec Expo Centre in Johannesburg, Modi said the global economy is being driven by a system that benefits a few countries while others, especially in Africa, suffer from poverty and environmental damage.
“The framework has deprived large populations of resources and led to over-exploitation of nature, which are challenges felt acutely in Africa,” he said.
Modi’s comments came as the Indian delegation, led by High Commissioner Prabhat Khlar and officials including Sudakhar Dalela and Randhir Jaiswal, held a media briefing in Sandton after his address.
Dalela said the world economy is rapidly changing, and the demand for critical minerals is rising. But Africa, which has around 30% of the world’s mineral reserves, is not benefitting enough.
He said the challenges include lack of investment, poor value-addition and little technology, as well as social and environmental issues.
Dalela said India backs the new G20 Critical Minerals Framework, a voluntary plan to help countries with resources develop them sustainably and create wealth from them.
World Trade Organisation CEO Dr Ngozi Okonjo-Iweala backed the plan, saying African leaders need to take charge of their resources and grow markets within the continent to benefit from them.
She said Africa continues to export raw minerals and earns little from its natural wealth.
“How we position ourselves as Africa depends on us and our policy-makers. If we continue to export 60% of our commodities and raw minerals, then things will not change,” said Okonjo-Iweala.
The G20 framework aims to build cooperation on making mineral supply chains more stable, fair and sustainable.
Pictured above: Prime Minister Narendra Modi and President Cyril Ramaphosa at the G20 Summit
Image source: Supplied
