Today: 31 May 2025
3 October 2023
2 mins read

India Among Top Five Investors in Africa

Positioned itself as the voice of the Global South, India is now looking to play a more proactive role in Africa. It is set to press the pedal on carving a mechanism to tap the African Continental Free Trade Area (AfCFTA)…reports Asian Lite News

Indian investments in Africa are also increasing steadily. African countries would be keen to get support from India especially in areas related to food security, digitisation, health and clean energy. India is already a top destination for medical tourism for Africans.

“India, which is primarily dependent on imports of critical minerals and rare earth elements, must come up with a sharper Africa strategy in a time bound manner,” Dhanuraj D, chairman, Centre for Public Policy Research, told India Narrative.

A Brookings report said that lessons from the rollout and implementation of India’s biometric digital identification program—Aadhar—will be critical for African governments. If implemented effectively, digital identity can promote good governance by establishing clear institutional mandates and accountability mechanisms and more. India, already an established leader in this field can play an important role in bringing digital transformation in the continent.

Meanwhile, CNN in a report said that debt repayment issues amid global economic headwinds from the pandemic and the Ukraine war, “Beijing’s own bubbling financial woes and a need to better address environmental issues are among new pressures on how China lends and countries borrow.”

Though India with about $74 billion is among the top five investors in Africa, the figure is expected to go up with increased private sector participation. Last month the African Union was given membership to the G20 under India’s presidency.

While India and Africa have traditionally shared close ties driven by shared struggle against colonial rule and a large diaspora, with the admission of AU in the G20 frame under India’s chair has further boosted sentiments in favour of New Delhi.

According to official data, bilateral trade between India and Africa touched about $98 billion in 2022-23, an increase from a mere $7 billion in 2001.

Earlier in a research paper, the Observer Research Foundation said that it is critical for India to view Africa not just as a destination for short-term returns but as a partner for medium and long-term economic growth.

At a time when China has slowed its investments into the continent, India has an opportunity. The continent will also play an important role as the geopolitical thrust shifts towards the Indo Pacific.

ALSO READ-World Bank approves $365 mn for Western, Central Africa

Previous Story

MoU Announced for India-Middle East-Europe Economic Corridor

Next Story

Imran Khan’s Legal Challenges Mount

Latest from -Top News

World needs Dubai’s ambition: Morgan

Piers Morgan has hailed Dubai’s transformation as an example of what visionary leadership can achieve. British broadcaster Piers Morgan has praised the extraordinary ambition and vision of His Highness Sheikh Mohammed bin

Mohammed honours football champions

Ruler of Dubai hails players as role models during palace reception His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, and Ruler of Dubai, received the

Abu Dhabi sets 2050 energy vision

Abu Dhabi unveils AED400 billion energy roadmap, inked climate finance pact ahead of 2026 UN Water Conference Abu Dhabi has unveiled a sweeping strategic framework to transform its energy and water sector

Gargash: UAE’s pragmatism sets regional example

Anwar Gargash says the UAE stands as a beacon of what is possible when pragmatism and vision come together. As political instability, economic fragmentation and rapid technological change continue to reshape the

US flag returns to Damascus

Billions in energy deals and lifted sanctions mark Syria’s reintegration, as US reopens embassy and declares the war-torn nation “open for business” under new regional partnerships. The United States has reopened its
Go toTop

Don't Miss

India Tightens Grip on Tech

The digital platforms have been asked to comply with new

Yechury remains critical, in ICU on respiratory support, says CPI(M)

Mr Yechury was admitted to the All India Institute of