New Delhi, May 15 (IANS) Bilateral trade between India and Africa reached $93.69 billion in 2025–26, registering a growth of 14.39 per cent over the previous year, according to the government.
India’s exports to Africa stood at $45.42 billion, while imports reached $48.27 billion during the same period.
According to Commerce Minister Piyush Goyal, India and Africa together can shape a more inclusive, resilient, and innovation-driven future for the Global South.
Addressing a curtain-raiser event for the forthcoming India-Africa Business Dialogue (IABD) and Exhibition, the minister emphasised the need to build upon existing trade ties and preferential trade frameworks by aligning standards, customs procedures and business practices to facilitate faster and smarter growth for businesses on both sides.
Highlighting the immense economic potential of collaboration between India and Africa, he noted that the African Continental Free Trade Area (AfCFTA), valued at nearly $3.4 trillion, together with India’s rapidly expanding $4 trillion economy, presents immense opportunities to create resilient partnerships, diversify supply chains, and move beyond raw material trade towards higher-value manufacturing and integrated value chains.
He further underlined the importance of technology transfer and youth-driven growth in shaping the future of India-Africa cooperation.
Stressing that nearly two-thirds of the population of India and Africa was below the age of 35, he called for greater focus on skilling, startups, innovation ecosystems, and talent development to prepare the workforce for industries of the future.
Goyal underlined that the next phase of India-Africa partnership must move beyond traditional raw material trade towards higher-value products, integrated supply chains, local manufacturing and technology-driven cooperation.
He identified agriculture and food processing, digital public infrastructure, healthcare and pharmaceuticals, renewable energy, critical minerals, electric mobility, manufacturing, defence production, and emerging technologies as key sectors for future collaboration.
The IABD and Exhibition is envisioned as a premier platform to deepen economic and strategic engagement between India and African nations through enhanced trade, investment, technology partnerships, and people-to-people collaboration.
—IANS
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