The Impressive TimesNew Delhi, August 29, 2025:Union Minister of Commerce & Industry Piyush Goyal has called for India and Africa to work towards doubling bilateral trade by 2030, with a focus on value addition, technology-driven agriculture, renewable energy, healthcare, and affordable mobility solutions. He was delivering the keynote address at the Valedictory Session of the 20th CII India-Africa Business Conclave in New Delhi today.
Highlighting the balanced nature of current trade, with India’s exports at USD 42.7 billion and imports at USD 40 billion, Shri Goyal said that there is still huge untapped potential. He urged both regions to move from raw material exports towards value-added production for global markets, creating stronger, long-term economic partnerships.
The Minister outlined multiple sectors where India and Africa can complement each other. Africa, he said, could support India in critical minerals and petroleum products, while India could strengthen Africa in food security, agriculture technologies, education, healthcare, innovation, and start-ups.
He also underlined India’s cost-competitiveness in services such as IT, AI, engineering, telecom, and medical tourism, which can directly support Africa’s development goals.
Goyal emphasized the vast scope in the automobile and mobility sector, pointing out that Africa imports USD 20 billion worth of motor vehicles annually, while India currently supplies only USD 2 billion. With globally competitive and fuel-efficient vehicles, India can meet Africa’s growing demand for passenger cars, commercial vehicles, two-wheelers, and electric mobility solutions.
This, he added, would not only provide affordable solutions to Africa but also open new markets for Indian manufacturers while creating opportunities for Africa to export raw materials and resources to India.
Drawing parallels between India’s vision of Viksit Bharat by 2047 and Africa’s aspiration for inclusive prosperity, Shri Goyal said the Conclave has become a defining platform to deepen ties. He recalled India’s support to Africa during the COVID-19 pandemic and stressed the potential of India’s UPI digital payments system to strengthen Africa’s financial inclusion.
“India and Africa together represent over 2 billion people and one-third of the global population. Our relationship is not just about history or trade — it is about shared dreams, challenges, and solutions,” Shri Goyal said, inviting African nations to scale up their engagement with India.
The Minister urged both regions to collaborate at multilateral forums like the WTO and amplify the voice of the Global South, reinforcing their role in shaping the world economy.
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