India and Africa aim to double trade to $200 billion by 2030, focusing on autos, agriculture, pharma, and logistics.
India and Africa are targeting a major increase in bilateral trade, with a goal to double it from $100 billion in 2022 to $200 billion by 2030. Commerce Secretary Sunil Barthwal emphasised four key sectors with significant potential: automobiles, agriculture, pharmaceuticals, and logistics.
Barthwal highlighted the African Continental Free Trade Area (AfCFTA) as identifying these sectors for enhanced collaboration. In agriculture, there are opportunities to expand trade in processed foods and seed technology. India’s pharmaceutical exports to Africa reached $3.8 billion in 2023, and there is scope to further increase this and provide affordable healthcare.
Critical minerals from Africa, essential for green energy technologies, present another area of potential. Barthwal also proposed that India share its logistics expertise and expand capacity-building programs in Africa. Dammu Ravi from the Ministry of External Affairs stressed the need for better utilisation of the Duty-Free Tariff Preference (DFTP) scheme and improved information flow on African policies to foster stronger economic ties.
