Trade between India and Africa increased by 9.3% between fiscal year 2021/2022 and 2022/2023, reaching $98 billion, according to India’s external affairs minister, as more than 30 African countries have benefited from India’s duty-free tariff preference (DFTP) scheme for least-developed countries.
https://northafricapost.com/73057-india-africa-trade-gains-momentum-projected-to-cross-100-billion-in-2024.html
Speaking at the Confederation of Indian Industry (CII) and Exim Bank of India conclave on India-Africa partnership, External Affairs Minister, Subrahmanyam Jaishankar, also expressed “confidence that trade volume will exceed $100 billion in 2023/2024 financial year.” The head of Indian diplomacy also said that New Delhi has already granted more than $12.37 billion in concessional loans to African countries. Pointing out that his country is one of the top five investors in Africa, he noted that Indian companies have completed 197 projects on the continent, 65 are under execution and 81 are in the pre-execution stage.
India-Africa trade gains momentum, projected to cross $100 billion in 2024
