India Prime Minister Narendra Modi on Thursday addressed African leaders who have converged in Delhi for the third India Africa Forum Summit. 

Nigeria's Muhammadu Buhari, Zimbabwe's Robert Mugabe and South Africa's Jacob Zuma are among the leaders attending the summit. 

Modi announced during his address on Thursday that India will offer concessional credit of ten billion US dollars over the next five years and a grant assistance of 600 million US dollars to African nations. 

He also invited African nations to join 'Solar Rich countries' with the goal to make solar energy an integral part of people's lives. 

Modi had held bilateral talks with 20 African leaders on Wednesday, and the reform of the United Nations Security Council was among the issues discussed. He also raised the demand on Thursday. 

The summit is an initiative between India and Africa Union nations to increase trade and investments, with India looking to near China's bilateral trade of over $200 billion with the continent. 

The 3rd India Africa Forum Summit is said to be one of the largest gatherings of African leaders abroad, with over 1000 delegates representing the 54 African union nations. 

UPDATES:

11.03 am IST: Zimbabwe leader Robert Mugabe thanks PM Modi for the invitation to join Indians. 

"I come as the chairperson of the African union and the President of Zimbabwe. We are delighted that this summit is finally taking place after it was postponed due to the Ebola epidemic that threatened to ravage parts of Africa."

11.00 am IST: PM Modi concludes his speech. 

10.58 am IST: "India will offer concessional credit of ten billion US dollars over the next five years and a grant assistance of 600 million US dollars, which will include India-Africa development fund and India-Africa health fund."

10.54 am IST: "India advocates reform in global institutions. Our institutions cannot be representative if they cannot give a voice to Africa or India. We must speak in one voice for reform of the United Nations including its Security Council."

10.52 am IST: Modi invites African leaders to join a coalition of 'solar rich countries' with the goal to make solar energy an integral part of our lives. "I will put this forward in Paris in December," he said.  

10.48 am IST: Modi refers to a 'Blue Revolution'. 

"For me, blue economy is a part of a larger blue revolution to reclaim blue skies as we venture towards a clean development."

10.47 am IST: "We will expand the Pan African e-network project conceived by late President Abdul Kalam."

10.46 am IST: "India's expertise in healthcare can help Africa."

10.43 am IST: "Technology will be a strong foundation of our partnership."

10.40 am IST: "African energy helps run the engine of Indian economy".

10.39 am IST: "Today, Africa and India are two bright spots of hope and opportunity in the global economy. India is honoured to be a development partner of Africa. It is beyond strategic concerns and economic benefits." 

"In less than a decade, our trade has jumped to $70 billion"

10.43 am IST: 

10.36 am IST: "Africa is now joining the global mainstream of innovation". 

10.34 am IST: "Two thirds of India and Africa respectively are under 35 years of age. The future belongs to the youth." 

10.33 am IST: "We have formed a partnership of prosperity."

10.30 am IST: "This is not just a meeting of India and Africa. Today, the dreams of one-third of humanity have come together under one roof. The heart beats of 1.25 billion Indians and 1.25 billion Africans are in rhythm," says Modi. 

10.27 am IST: "The brilliant colours of Africa have made Delhi the most special place in the world today. We are deeply honoured by your presence today," says Indian prime minister Narendra Modi. 

10.26 am IST: PM Modi takes the stage. 

10.23 am IST: This gathering of African states in India is like a family reunion, says Swaraj.  10.22 am IST: Indian External Affairs Minister Sushma Swaraj makes a welcome address at the India Africa Forum Summit. 

10.05 am IST: The cultural programme has begun. 

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