Bangobarta Bureau , NEW DELHI
Union Minister of State for External Affairs, Kirti Vardhan Singh, addressed the 20th CII India-Africa Business Conclave, highlighting the significant growth in bilateral relations and the vision for a shared future. The conclave, which kicked off in Delhi, saw participation from delegates across Africa and India.
In his address, Singh announced that bilateral trade between India and the African continent has “crossed the magical figure” of $100 billion, a substantial increase from $56 billion in 2019-2020. He also highlighted India’s position as one of the top five investors in Africa, with cumulative investments exceeding $75 billion since 1996.
Singh stated that India has provided over $12 billion in concessional loans and $700 million in grant assistance for various projects across Africa. He also mentioned that India has offered 50,000 scholarships to African youth, with over 42,000 already utilized.
The theme of this year’s conclave, “Co-creating a Shared Future,” was a key point of his speech. Singh said this theme signifies a shift from a project-based partnership to one built on a spirit of collaboration. He also recalled India’s push for the African Union to be granted permanent membership in the G20 during India’s presidency, stating, “We put emphasis on Africa’s rightful place at the global high table.”
