India–Africa bilateral trade surpassed $100 billion in the last financial year, nearly doubling the $56 billion recorded in 2019–2020, and highlighting the accelerating pace of economic ties between the two regions.
The figures were announced by India’s Union Minister Kirti Vardhan Singh at a business conclave, where he noted that the expansion reflects both growing trade volumes and deepening financial cooperation. India has extended more than $12 billion in concessional loans and $700 million in grants to African nations, strengthening infrastructure and development financing.
India’s cumulative investments in Africa reached $75 billion between 1996 and 2024, placing it among the continent’s top five investors. The scale of investment underscores New Delhi’s long-term strategy to anchor itself in Africa’s economic integration and fast-growing consumer markets.
Beyond capital flows, India has invested heavily in human capital. More than 50,000 scholarships have been offered to African students, with over 42,000 already taken up. The initiative signals an effort to align economic engagement with skills development, positioning African youth to participate in future trade and investment opportunities.
India has also leveraged its role in global forums to extend Africa’s voice on international issues. It has partnered with African nations in initiatives such as the International Solar Alliance and the Coalition for Disaster Resilient Infrastructure, while providing humanitarian assistance to countries including Mozambique, Madagascar, and Mauritius during crises.
In Ghana, Indian Foreign Direct Investment has crossed the US$2 billion mark across more than 900 projects, spanning manufacturing, agriculture, and infrastructure. This figure includes US$1 billion mobilized through concessional lines of credit and buyer’s credit for key development projects.
During PM Modi’s visit to Ghana’s Parliament, he acknowledged that bilateral trade had surpassed US$3 billion and pledged to double that within the next five years, signaling ambition and mutual momentum.
The surge in trade and investment marks a shift from transactional engagement to what officials describe as co-creating a shared future. Analysts say the partnership reflects the broader rise of South–South economic links and strengthens the case for a more multipolar world economy.
