India-Africa trade reached an all-time high of $100 billion in 2024–25, marking a major milestone in South-South cooperation.
The announcement was made by India’s junior foreign minister, Kirti Vardhan Singh, at the 20th India-Africa Business Conclave held in New Delhi end of August. This figure reflects a dramatic surge from $56 billion in 2019–20, driven by increased economic engagement across sectors such as healthcare, renewable energy, and agri-tech. Singh emphasized the evolving focus on ‘co-creating a shared future,’ moving beyond traditional development partnerships.
India is now among Africa’s top five investors, with $75 billion in cumulative investments since 1996. These include concessional loans worth over $12 billion for 336 infrastructure projects in 42 countries — 208 of which are already completed. Additionally, $700 million in grant aid has supported vocational training centers, hospitals, and IT education. India has also offered 50,000 scholarships, with over 42,000 African students having benefited.
The trade composition remains diverse. India exports to countries like Nigeria, South Africa, and Tanzania, totaling $51.2 billion in 2024, included petroleum products, pharmaceuticals, engineering goods, and rice. Imports largely consist of crude oil, cotton, fruits, and minerals, primarily from Nigeria, Angola, and Algeria. Singh also praised Africa’s permanent G20 membership, secured during India’s G20 presidency, stressing that “we put emphasis on Africa’s rightful place at the global high table.” With Africa’s population projected to reach 2.4 billion by 2060, the India-Africa partnership is poised to become a cornerstone of global development strategy.