India-Africa Trade Surpasses $100 Billion: A New Era of Economic Collaboration

Union minister Kirti Vardhan Singh announced that India-Africa trade has exceeded USD 100 billion. India ranks among the top-five investors in Africa, extending loans and scholarships, while stressing mutual development and cooperation in clean energy as core themes of their partnership.

Union Minister Kirti Vardhan Singh announced a landmark development in India-Africa trade, which has now surpassed the USD 100 billion mark. Speaking at the 20th CII India-Africa Business Conclave, Singh highlighted New Delhi as a leading investor in Africa with cumulative investments over USD 75 billion since 1996.

The minister emphasized a shift from project partnership to 'Co-creating a Shared Future,' reflecting on the increasing resilience of the India-Africa partnership against global challenges, such as the post-COVID economy and geopolitical conflicts. Singh reminded attendees of Africa's critical place in India's foreign policy, also noting the African Union's permanent membership in the G20 during India's recent presidency.

India is keen to enhance collaboration in clean energy and infrastructure, inviting African nations to join the Coalition for Disaster Resilient Infrastructure and the International Solar Alliance. Additionally, India's digital and healthcare initiatives have supported tens of thousands of African students through tele-education and tele-medicine, demonstrating an enduring commitment to shared growth.

(With inputs from agencies.)