Saturday, December 9, 2023

India-Africa Trade Surpasses USD 100 Billion, Striking a Remarkable Balance, Affirms EAM Jaishankar

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External Affairs Minister (EAM) S Jaishankar announced that India’s trade with Africa has surpassed USD 100 billion and is notably well-balanced. Speaking at an event celebrating the African Union’s membership in the G20, Jaishankar highlighted the substantial and evenly distributed nature of the trade relationship.

EAM Jaishankar emphasized India’s significant investments in Africa, stating, “Our trade with Africa today is in excess of USD 100 billion and it’s actually fairly evenly balanced. It’s not just trade; India is among the top five investors in Africa. Our estimated capital today is in excess of USD 80 billion.”

He underscored India’s commitment to Africa over the last decade, with the opening of numerous embassies and the establishment of the first Indian Institute of Technology and Forensic Sciences University abroad in the continent.

Highlighting the importance of the India-Africa relationship, Jaishankar expressed confidence in the partnership’s potential to reshape the global polity. He stated, “We see in our relationship actually a very, very powerful force that would rebalance the global polity, which in our view has been skewed over the last two centuries.”

Discussing the African Union’s permanent membership in the G20, Jaishankar noted the determined effort to ensure a positive outcome, marking a significant development in international deliberations.

On a related note, EAM Jaishankar welcomed ambassadors from Africa to the Yashobhoomi convention centre on Friday, emphasizing India’s commitment to sharing its transformative experience in Digital Public Infrastructure. He highlighted the pivotal recognition of this effort by the G20, anticipating increased collaboration for a digitalized future.

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