In pursuance of its engagement with Africa, India organised a two- day CII-EXIM bank conclave on India and Africa growth partnership on July 19-20, 2022 in New Delhi. The meet was attended by forty ministers from 17 African countries that included Eswatini, Gabon, Cameroon, Ghana, Burkina Faso, Ethiopia, Niger, Republic of the Congo, Mauritius, Sudan and many more. This was the 17th edition of the conclave which has been taking place annually since 2005. At the time of inception, the main aim of the conclave was to encourage and promote private investment from Indian companies in African countries. This year, the conclave focused on infrastructure development, trade finance, agriculture, food processing, education and training, healthcare among many other areas where Indian companies have already made their mark.
Addressing the conclave, Indian foreign Minister highlighted that India’s bilateral trade with Africa stands at US$ 89.5 billion in 2021-22 as compared to $56 billion the previous year. India’s exports stood at $40.3 billion in 2021-22 with a growth rate of 45% which was recorded at $27.8 billion in 2020-21.