India and Africa: Doubling Trade and Unlocking Potential by 2030

Commerce Minister Piyush Goyal highlights the potential for India and Africa to double their bilateral trade to USD 164 billion by 2030, from the current USD 82 billion. He encourages enhanced cooperation in critical minerals, agriculture, and manufacturing, and notes significant opportunities in high-quality exports and imports.

India aims to double its trade with Africa to USD 164 billion by 2030, Commerce Minister Piyush Goyal announced on Friday. Currently, bilateral trade stands at USD 82 billion, but with potential growth in various sectors, this ambitious target is achievable, he asserted.

Minister Goyal emphasized the need for increased cooperation in critical minerals, agriculture, technology, and manufacturing. Despite current suboptimal trade figures, he believes untapped opportunities make this an ideal moment to reassess and strengthen ties between the regions.

Goyal also noted specific sectoral opportunities, such as the supply of high-quality milk products to Mauritius and expanding India's share in Africa's USD 20 billion motor car imports. The import of African critical minerals could further bolster India's battery manufacturing industry.

(With inputs from agencies.)