Africa is among the world’s most rapidly growing economic regions, emerging relatively unscathed from the global economic crisis. India is Africa’s fourth-largest trading partner behind the EU, China and US, and a significant investor in the continent. It is estimated that more than 200 Indian companies are doing business in Africa across sectors.
Trade between India and Africa goes back to the 16th century when Indian traders sailed to the east coast of Africa in search of mangrove poles, elephant tusks, gold and gemstones. During the colonial period, many Indian immigrants were brought in to work on the railways in East Africa, and on sugar and other plantations in Mauritius, Madagascar and southern Africa.
Natural synergy
As emerging economies, India and Africa have a lot in common – rich natural resources, similar demography and large domestic markets. This provides a natural synergy for building partnerships. The relationship between India and Africa has been marked by mutual respect and sensitivity to shared compulsions and developmental needs.
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