• India claims $75 billion in cumulative investments in Africa from 1996 to 2024, ranking among the continent’s top five investors.
• Bilateral trade surpassed $100 billion in FY2024–25, almost double the $56 billion recorded in FY2019–20.
• India extended $12 billion in concessional loans, $700 million in grants, and over 50,000 scholarships to African students.

Between 1996 and 2024, India invested more than $75 billion across the continent, placing it among Africa’s top five investors, Minister of State for External Affairs Kirti Vardhan Singh said on August 27, 2025.

Had the honour of addressing the 20th CII India–Africa Business Conclave alongside His Excellency, the Hon’ble General (Retd.) Dr. C.G.D.N. Chiwenga, Vice President of the Republic of Zimbabwe, and other esteemed dignitaries and diplomats.

We remain committed to forging robust… pic.twitter.com/RA5Xt3QeNb

— Kirti Vardhan Singh (@KVSinghMPGonda) August 27, 2025

India has invested more than $75 billion in Africa between 1996 and 2024, placing it among the continent’s top five investors, Minister of State for External Affairs Kirti Vardhan Singh said at the 20th India-Africa Business Conclave in New Delhi. Bilateral trade surged to over $100 billion in FY 2024-25, up from $56 billion in FY 2019-20.

He added that India has extended over $12 billion in concessional credit and $700 million in grants for African development projects, alongside 50,000 scholarships, of which 42,000 have already been used.

Singh underlined Africa’s central role in India’s foreign policy, recalling the African Union’s admission as a permanent G20 member during India’s presidency. “We are emphasising Africa’s rightful place at the global high table,” he said.

The Indian leader invited African nations to join the Coalition for Disaster Resilient Infrastructure (CDRI) and the International Solar Alliance (ISA) to boost cooperation on climate and clean energy.

Securing the supply of raw materials

Created at the UN Climate Action Summit in 2019 under Prime Minister Narendra Modi’s initiative, CDRI brings together governments, UN agencies, development banks and private players to fund climate- and disaster-resilient infrastructure worldwide.

Launched at COP21 by India and France, the ISA aims to cut solar energy costs in sun-rich countries between the Tropics of Cancer and Capricorn, many of which lack the capital and expertise to harness their solar potential.

India’s ties with Africa stretch back over two millennia, when ships crossed the Arabian Sea to supply spices to the Kingdom of Aksum in the Horn of Africa. During the colonial era, hundreds of thousands of Indian indentured laborers settled in East and Southern Africa, forming the foundation of today’s 3.5-million-strong Indian diaspora.

Positioning itself as a partner rather than a predator, India emphasizes equality and knowledge transfer in its African engagement. Yet, while training and technology clauses exist in some contracts, this cooperative rhetoric often masks a strategic aim: securing access to Africa’s raw materials.

This article was initially published in French by Walid Kéfi

Adapted in English by Ange Jason Quenum