February 6, 2010 12:10 PM

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India to boost South-South cooperation

India is to increase partnership with developing nations other than immediate neighbours to boost South-South cooperation. Speaking at a high level Summit on South-South cooperation at the United Nations, the Indian envoy to the UN Hardeep Singh Puri said New Delhi is taking cooperation beyond its immediate neighbourhood to other regions especially Africa. He said New Delhi is happy that today it is also able to extend its partnership in a significant manner financially. Puri said the annual outlay on concessional lending and grants is over 1 billion dollars, covering countries in its region, in Africa and beyond. In addition, 5 billion dollars have been extended as lines of credit since 2003. The envoy said India has also unilaterally agreed to duty free and quota free market access to goods from 34 least developed countries in Africa.

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