India-Africa trade has surpassed US$100 billion in the financial year 2024-25, almost doubling from the US$56 billion recorded in 2019-20. The announcement was made by Minister of State for External Affairs Kirti Vardhan Singh at the opening of the 20th India-Africa Business Conclave in New Delhi. This is reported by
IANS, a partner of TV BRICS.
The minister noted that India ranks among the top five investors in Africa, with cumulative investments exceeding US$75 billion between 1996 and 2024. He highlighted India’s development partnership with Africa, which includes more than US$12 billion in concessional credit, US$700 million in grant assistance, and 50,000 scholarships for African youth.
Singh underlined that Africa remains a central pillar of India’s foreign policy, recalling the African Union’s admission as a permanent member of the G20 during India’s presidency. He invited African nations to strengthen cooperation on climate and clean energy.
Marking two decades of steadily expanding trade, Singh emphasised that minerals, critical resources, agriculture, education, healthcare, and capacity building will remain key drivers of future engagement. He stressed that the milestone of US$100 billion in trade reflects the growing partnership and shared ambition to accelerate economic ties between India and Africa.
Photo:
iStock / tadamichi
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