Around 549 projects worth around $85.37 billion were discussed at the just concluded India-Africa conclave. African nations have evinced keen interest in Indian businesses ranging from agriculture, energy, rail link to healthcare.

At the conclave's closing day on March 11, India's Minister of State for Commerce & Industry E.M. Sudarsana Natchiappan said African companies have identified major investment opportunities in the upcoming National Investment & Manufacturing Zones (NIMZs) and large industrial corridors in India.

A Ugandan minister at the conclave said Uganda is seeking Indian investments and expertise in expanding its industrial base and is ready to provide India Inc. a gateway to the 150 million people-strong East Africa market.

Our government is inviting Indian investors into Uganda and we would very much like them to come and see what they can do there," Uganda's Finance, Planning and Economic Development Minister Maria Kiwanuka said.

Indian brands like Tata Motors, Airtel and Maruti Suzuki have made inroads into Uganda. Apart from recently found oil and gas reserves, the country also seeks Indian investments in exploring its huge reserves of non-oil minerals like cobalt, uranium, and graphite.

India can aspire to quadruple its revenues from Africa to $160 billion by 2025 by developing its presence in sectors where it has a unique value proposition in areas such as IT, agriculture, infrastructure, pharmaceuticals and consumer goods, said a McKinsey report released at the conclave.

The conclave not only witnessed business proposals, it also saw concern for medical cooperation. Among the many plenary sessions one on healthcare concluded that India and the African countries should mull forming a working group to explore healthcare cooperation.

Finally, among the exhibitions at the conclave one showcased a new initiative - India Africa Craft Design Initiative - that has India partnering with African countries to empower African women by developing skills that already exist within them.

If one looks at the issues that have been discussed here at the conclave it is all big stuff but focusing on women in rural areas is absolutely essential too," Prisca N. Nemapare, chief program officer of the Zienzele Foundation in Zimbabwe said.

This conclave would help this project with exposure by creating market linkages and help small organizations with big impacts by way of funding, education or any other support that the communities may need," she said, adding that India's National Institute of Design (NID) has helped women in Africa in using their talent in the best possible manner.

At the inaugural session of the conclave, Indian Commerce Minister Anand Sharma described the conclave as an initiative in addition to what India does bilaterally with African countries. He said India had been providing credit for African projects at highly competitive rates. "For Africa the cost of credit is highly competitive because we have put in interest subvention. It is as competitive as credit can be available to Africa from anywhere for infrastructure projects," Sharma said.

Export-Import Bank of India Chairman Yaduvendra Mathur said the bank is planning to set up a project development company with the African Development Bank (AfDB) to encourage public-private partnership (PPP) projects in Africa.

Till date the bank has in place 136 Lines of Credit (LOCs) with credit commitments of around $6.5  billion for financing exports from India to cover around 48 countries in Africa.

These LOCs are earmarked for developmental projects like railway rehabilitation, setting up of textile, cement, tractor assembly, agro and food processing, rural electrification and transmission and irrigation.about $5 billion worth of projects have been planned under the Buyers Credit introduced by the Indian commerce ministry. A total of 200 Line of Credit were in operation for Africa.

Bilateral trade between India and Africa has shot up from $25 billion in 2006-07 to around $70 billion in 2012-13. However, the Indian government has targeted it to touch $200 billion by 2020.

These initiatives carried out by India are also appreciated by African nations.  Mozambique Agriculture Minister Jose Pacheco praised India for its "non-interfering stand" while providing lines of credit meant for the development of his country's agriculture and infrastructure sectors.

India does not impose anything on us while granting the line of credit. India respects the priorities of our government," Pacheco said.

India had offered credit assistance of $500 million to Mozambique during the state visit of President Amando Guebuza to India in 2010. India has provided Mozambique a total of over $600 million over the last four-five years, out of which 10 percent has gone to agriculture.