At the CII Conclave, Piyush Goyal calls for deeper India–Africa trade, eyeing $165B by 2030 across mobility, energy, and healthcare.
Union Commerce & Industry Minister Shri Piyush Goyal has called on India and Africa to double bilateral trade by 2030, setting a target of nearly USD 165 billion, while stressing value addition, renewable energy, and healthcare as key drivers of growth.
Speaking at the Valedictory Session of the 20th CII India–Africa Business Conclave in New Delhi, Goyal noted that bilateral trade is currently well-balanced, with India’s exports at USD 42.7 billion and imports at USD 40 billion. He underlined the untapped potential: “This demonstrates the opportunity we have missed out on over the years, and the scope for expansion today.”
Key Trade & Sectoral Opportunities
- Automobiles: Africa imports nearly USD 20 billion worth of vehicles annually, but India supplies only USD 2 billion. Goyal said India’s globally competitive vehicles, from two-wheelers to EVs, can play a vital role in Africa’s growing mobility needs.
- Agriculture & Food Security: Collaboration in technology-driven farming, food processing, and self-help group movements to ensure affordable nutrition.
- Critical Minerals & Energy: Africa can supply critical minerals and petroleum products, while India supports Africa in renewable energy solutions.
- Healthcare & Pharma: Affordable medicines, vaccines, and medical tourism are areas where India can expand its role.
Financial & digital cooperation
Shri Goyal highlighted India’s Unified Payments Interface (UPI) as a tool to cut transaction costs and strengthen Africa’s financial systems. He also reaffirmed India’s continued support to Mauritius in tackling inflation in essential commodities such as milk, rice, and edible oils.
Shared prosperity & global role
Pointing to the billion-plus populations of both India and Africa, Shri Goyal said the two regions are on similar journeys, India towards Viksit Bharat 2047 and Africa towards continent-wide prosperity. He urged African nations to partner with India on multilateral platforms like the WTO to amplify the voice of the Global South.
Recalling India’s support during the COVID-19 pandemic, Goyal said, “Our relationship is not just about history or trade; it is about shared dreams, shared challenges, and shared solutions. Together, we can transform our economies, empower our youth, and ensure prosperity for every citizen.”
Source: PIB
