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CII noted that bilateral trade between India and Africa touched $100 billion in FY24, making India one of Africa’s largest trading partners.“>
India and Africa must strengthen their economic cooperation to unlock new growth opportunities across trade, investment, and industrialisation, industry leaders and policymakers said at the 19th CII–EXIM Bank Conclave on India–Africa Growth Partnership. The three-day event, organised by the Confederation of Indian Industry (CII) and the EXIM Bank of India, brought together senior government officials, business leaders, and diplomats from over 40 African nations. Discussions centred on scaling up trade ties, promoting value-added manufacturing, and boosting collaboration in critical areas such as infrastructure, energy, healthcare, agriculture, and digital technologies. Sudarshan Venu, Managing Director of TVS Motor Company, stressed the importance of nurturing a long-term economic partnership built on trust and mutual benefit. “Africa’s growth story and India’s capabilities in innovation, technology, and manufacturing can complement each other. Together, we can create sustainable development models that benefit both regions,” he said. Indian officials highlighted New Delhi’s initiatives to expand lines of credit, capacity building, and private sector investments in Africa. At the same time, African leaders urged India to deepen its role in financing infrastructure, renewable energy projects, and industrial clusters across the continent.
India and Africa trade ties
CII noted that bilateral trade between India and Africa touched $100 billion in FY24, making India one of Africa’s largest trading partners. However, industry stakeholders emphasised the need to diversify the trade basket beyond commodities and explore collaboration in emerging sectors such as electric mobility, pharmaceuticals, fintech, and green energy. The conclave also saw discussions on improving air and maritime connectivity, easing regulatory hurdles, and building resilient supply chains to facilitate cross-border trade.
“India and Africa are natural partners in shaping a multipolar global economy. By leveraging each other’s strengths, both regions can accelerate inclusive and sustainable growth,” CII Director General Chandrajit Banerjee said.
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