Trade Between India and Africa Hits Record $100 Billion Milestone

Trade between India and Africa has surged to an all-time high of $100 billion in the fiscal year 2024-25, marking a significant milestone in the economic partnership between the two regions. This remarkable achievement represents a doubling of trade volume from just five years ago when it stood at $56 billion.

The announcement was made by India’s junior foreign minister, Kirti Vardhan Singh, during the annual India-Africa business conference held in New Delhi. Singh highlighted the strengthening ties between India and Africa, emphasizing the importance of the partnership in driving economic growth and development.

Furthermore, Singh revealed that the African Union has been granted a permanent membership in the G20, a move that underscores India’s commitment to elevating Africa’s global standing on the world stage.

Future Collaboration and Strategic Focus Areas

Looking ahead, India is keen on expanding collaboration with Africa in key sectors such as healthcare, renewable energy, and technology-driven farming. These strategic focus areas are seen as pivotal in shaping a shared future for both regions, fostering innovation, sustainability, and mutual prosperity.

The partnership between India and Africa holds immense potential for driving inclusive growth, fostering technological advancement, and addressing common challenges faced by both regions. By leveraging each other’s strengths and resources, India and Africa can create a more resilient and interconnected economic landscape.

As the trade volume continues to soar and new avenues of cooperation emerge, the India-Africa partnership is poised to play a transformative role in shaping the economic trajectory of both regions in the years to come.

SEMAFOR