India, Africa Aim to Double Trade by 2030: Piyush Goyal

Quick Summary

• Commerce and Industry Minister piyush Goyal stated that India and Africa should aim to double bilateral trade by 2030, targeting $164 billion compared to the current levels of $82 billion.
• India’s exports to Africa were $42 billion in 2024-25,while imports stood at $40 billion.
• The two-way trade has risen from $56 billion in 2015-16 but remains “suboptimal” according to Mr. Goyal, who emphasized untapped potential between these regions.
• Key areas for cooperation identified include critical minerals, agriculture, technology, manufacturing, and dairy products (e.g., milk products for Mauritius).
• India currently accounts for only $2 billion of Africa’s annual motor car imports worth $20 billion-a “delta of opportunity” as highlighted by Mr. Goyal.
• African critical minerals such as cobalt and copper are seen as crucial for battery manufacturing in India.

Indian Opinion Analysis

India’s ambition to double its trade with Africa reflects strategic foresight toward diversifying partners amid global economic shifts. the focus on areas like critical minerals positions both parties favorably: African resources could strengthen India’s technological edge and green energy sectors like battery production; conversely, enhanced Indian exports can address specific needs within African markets (e.g., dairy supply).

Growing commerce with Africa aligns closely with initiatives fostering South-South cooperation but achieving it will require addressing challenges such as logistical infrastructure deficits or tariff barriers present in some parts of the region. By optimizing sector-specific collaborations such as motor vehicles or processed goods while bolstering raw material imports for industrial growth at home, both nations can move toward a mutually beneficial trajectory that complements their developmental priorities.

Read More: The Hindu