Union minister Kirti Vardhan Singh on Wednesday said India-Africa trade has crossed USD 100 billion and New Delhi has emerged as one of the top-five investors in the continent.
Addressing the inaugural session of the 20th CII India-Africa Business Conclave in the national capital, Singh said India has extended concessional loans worth over USD 12 billion and USD 700 million in grant assistance for projects across Africa, apart from offering 50,000 scholarships for African youth, of which more than 42,000 have already been utilised.
“This year’s theme is different as we have decided to move from project partnership and growth partnership to the spirit of ‘Co-creating a Shared Future’, which signifies the sentiment attached to this remarkable journey,” the minister said.
“India’s bilateral trade with Africa has crossed the magical figure of USD 100 billion in 2024-25 compared to USD 56 billion in 2019-2020. With cumulative investments over USD 75 billion from 1996-2024, India is among the top five largest investors in Africa,” he said.
He stressed that Africa continues to play an important role in India’s foreign policy and recalled that the African Union was given permanent membership of the G20 during India’s presidency.
“We put emphasis on Africa’s rightful place at the global high table,” he said.
Singh added that India has stood with Africa in times of need, recalling relief operations in Mozambique, Madagascar, Mauritius and several other countries and invited African nations to join the Coalition for Disaster Resilient Infrastructure as well as the International Solar Alliance to strengthen cooperation in climate and clean energy.
“India and Africa are shaping a strong partnership to co-create a shared future, built on mutual trust and collaborative efforts,” he said.