Union Minister Kirti Vardhan Singh highlighted the growing economic ties between India and Africa, noting that bilateral trade has surpassed $100 billion, and India has become one of the top-five investors on the continent. Speaking at the inaugural session of the 20th CII India-Africa Business Conclave in New Delhi, Singh emphasized India’s commitment to supporting Africa’s development through concessional loans, grants, and educational initiatives.
Singh detailed that India has extended concessional loans worth over $12 billion and $700 million in grant assistance for various projects across Africa. Additionally, India has offered 50,000 scholarships for African youth, of which more than 42,000 have already been utilized, reflecting the country’s long-term investment in capacity building and human resource development.
Highlighting the evolution of the India-Africa partnership, Singh said this year’s theme—“Co-creating a Shared Future”—represents a shift from project and growth partnerships to a collaborative vision for the future. He also noted that Africa continues to be a key focus of India’s foreign policy, recalling that the African Union was granted permanent membership of the G20 during India’s presidency.
