India keen on Africa’s potential, despite challenges
The country has historically strong expertise in sectors that require growth and investment in our continent
Indian Prime Minister Narendra Modi said on his recent visit to the continent that “Africa is at the top of our priorities”. And while India and African countries have long enjoyed strong bilateral trade relations given our very comparable histories, it’s no surprise that many African countries have developed close cultural, political and economic ties with India. As the investment in African strategic infrastructure gathers pace, India’s role as a strategic partner to unlock potential and growth in African economies is becoming more prevalent. Over the past two decades, we’ve experienced robust growth in bilateral trade between the pair, making India Africa’s fourth-largest national trading partner. Total trade between Africa and India has increased more than eight-fold, from $7.2bn in 2001 to $59.9bn in 2017, accounting for more than 6.4% of total African trade in 2017, up from 2.7% in 2001. Trade with Africa now represents just over 8% of India’s total trade. Primary commodities...
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