CII hosts India-Africa Business Conclave as trade soars past US$100bn
India and Africa see a 'shared future' as global trade bifurcates along geopolitical lines
The 20th CII India-Africa Business Conclave. Photo source: ZBC News
In a landmark moment for South-South cooperation, India-Africa bilateral trade has officially crossed the US$100bn mark for the first time as the Confederation of the Indian Industry (CII) hosted the 20th CII India-Africa Business Conclave in New Delhi. The event, which drew over 1,600 delegates from 64 countries, underscored a strategic shift in the partnership between the two. India and Africa both face similar headwinds. They have recently been hit by US tariffs and their citizens are feeling increasingly unwelcome in many Western countries. India and Africa are roughly at par when it comes to the size of their respective economies and population. India, however, is far denser and remains a single governing entity, while Africa is not. That presents the latter with a development challenge far more complex to deal with. On the flip side, Africa is endowed with immense natural resources, which India remains, for most part, energy and mineral deficient.
The three-day conclave, organized by CII in partnership with the Ministry of External Affairs and the Ministry of Commerce and Industry, serves as a powerful platform for fostering stronger commercial ties. Indian Union Minister Kirti Vardhan Singh announced the significant trade milestone, highlighting a near-doubling of trade volume in just five years. The robust growth is a testament to the deepening economic engagement between the two regions, buoyed by India's position as a top five investor in the African continent, with cumulative investments now exceeding US$75bn.
The discussions at the conclave highlighted a comprehensive approach to partnership, moving beyond traditional trade to include development initiatives and capacity building. India has extended concessional loans of over US$12bn and provided US$700m in grant assistance for a diverse range of projects across Africa. In a move to strengthen people-to-people connections, India has also offered 50,000 scholarships to African youth, with more than 42,000 already utilized, nurturing a new generation of leaders and innovators.
A central theme of the event was the newfound synergy in key sectors critical to both regions' growth. Ministers and industry leaders emphasized collaboration in agriculture and food processing, defence, physical and digital connectivity, and clean energy. The focus on digital transformation was seen as a major opportunity for India to share its expertise in building robust, scalable digital infrastructure. The pivotal inclusion of the African Union as a permanent member of the G20, under India's presidency, was also lauded as a crucial step towards Africa's greater integration into the global economic architecture.
The conclave concluded with a collective resolve to build a new paradigm of partnership based on mutual respect, trust, and shared aspirations. As Africa and India face common challenges and opportunities, the success of the 20th CII India-Africa Business Conclave signals a promising new era of co-creation, where both regions can leverage their collective strengths to forge a prosperous and resilient future together.
Centre Director urges India to take small steps to make big impact in Africa.
References
PTI
The Times of India
The Economic Times
CII
Ministry of External Affairs (MEA), Government of India.
