India’s president, Pranab Mukherjee, has started on June 12 a six-day visit in Africa to bolster the economic bonds between his country and the continent which is rich in natural resources, as India competes highly with China.

Followed by a State minister, four members of parliament, high officials and a delegation of businessmen, President Mukherjee has already been to Ghana, where it signed with his counterpart John Dramani Mahama various cooperation agreements, for credit lines mostly.  

India’s number one came to Abidjan on June 14. He should sign there with his Ivorian counterpart, Alassane Ouattara, bilateral economic agreements of which one regarding the opening in Abidjan of a subsidiary of Exim Bank of India which will serve all the west African region.  

Next and last, Mr Mukherjee will visit Namibia where he is also to sign in Windhoek, the capital, economic accords with his Namibian counterpart Hage Geingo.

Second most populated country worldwide, India for some years now has been trying to catch up with China, who is rapidly expanding across the continent, by relying on its dynamic and growing commodity industry. In this framework, Indian Prime Minister Narendra Modi announced at the end of October 2015, at the 3rd India-Africa summit, that his country would grant African nations a total of $10 billion of concessional loans, in addition to a $600 million aid over the next five years.

He also said that New Delhi already provided $7.4 billion concessional loans and $1.2 billion to African countries since the first India-Africa summit in 2008.

Trade between India and Africa have doubled in 7 years, from $30 billion in 2008 to $72 billion in 2015, data released in March 2016 by India’s ministry of foreign affairs shows.