The event, the first of its kind, was jointly organized by the Algerian Economic Renewal Council and the Federation of Indian Chambers of Commerce and Industry (FICCI), with participation from both countries' business and government leaders, the Ministry of External Affairs (MEA) said

In her speech, President Murmu praised the reforms led by Algerian President Abdelmadjid Tebboune's leadership, acknowledging the positive changes taking place in the country. "I commend the transformative reforms that have been introduced by the Algerian Government under his able leadership," she said, adding that Algeria's commitment to inclusive growth and democracy is praiseworthy

President Murmu highlighted the historical ties between India and Algeria, recalling their shared values. "India had extended strong support to the Algerian struggle for freedom, and today, India and Algeria are committed to embark on the path of peace and prosperity," she remarked

She emphasized the growing importance of India-Africa relations, noting that India is now the fourth-largest trading partner of Africa, with bilateral trade amounting to USD 84 billion and investments exceeding USD 75 billion

Referring to Algeria's rapid progress, she pointed out its 4 per cent GDP growth and the registration of 9,000 investment projects over the past two years, encouraging Indian companies to explore these opportunities. "I encourage our companies to remain engaged and invested in the opportunities that the Algerian economy offers," she said, according to an MEA release

Addressing India-Algeria trade, which currently stands at USD 1.7 billion, President Murmu acknowledged that there is untapped potential for further collaboration. She identified key sectors like energy, construction, automobiles, fertilisers, and pharmaceuticals where ties could be strengthened, while also urging the exploration of new avenues for trade and investment

President Murmu highlighted India's progress as a USD 4 trillion economy and mentioned recent reforms such as the Production Linked Incentive (PLI) Scheme and the India Semiconductor Mission, which have improved the business environment

"In today's uncertain global environment, India's rapid rise stands out. India, currently a USD 4 trillion economy, has made impressive progress in the last few years due to political stability, policy predictability and a reform-oriented economic agenda that has ensured the ease of doing business. The sustained growth rate of 8 per cent, skilled talent pool programs such as production linked incentive scheme, India Semiconductor mission and establishment of twelve smart industrial cities have opened up new opportunities. Many other reforms to boost the manufacturing sector like goods and services tax are in place. This has made it easy for businesses to establish and grow in India," she said