As the global economy rebalances itself after the Covid Pandemic, serious business practitioners are seeking to expand opportunities for trade and collaboration between India and the African continent. In the last few years, India’s relations with Africa saw a revival. India-Africa trade reached $62 billion in 2018 compared to $39 billion during 2009-10.
India is the world’s fastest-growing major economy, outpacing China’s in terms of growth rates, even though it is still much smaller in overall size. Large parts of Indian society are simultaneously growing richer—the number of Indians in middle-income brackets is expected to reach 475 million people in 2030. Some analysts now predict that India will become the second-largest economy in the world by 2050.
Africa is rich in natural resources and shows long-term economic potential, with its youthful population and influence as a bloc of 54 countries in multi-lateral organizations is apparent. Many African countries are open for economic opportunities and have growing trade ties with Japan, Russia, Brazil, and Cuba.
Following the successful Indo-Africa Virtual Summit in November 2020, the IMC Chamber of Commerce and Africa Business News Group (ABN Group) have again joined forces for the 2021 Indo-Africa Virtual Summit on the 23rd and 24th of March 2021.
This summit will explore sectors such as Power & Renewable Energy; Knowledge, Skill & Education; Automobiles (2 wheelers & EV); Agriculture and Food Processing; Resources: Mining, Oil & Gas; and Health Infrastructure.
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