21 Jul 2022

India-Africa Investment Meet: Opportunities and Collaboration

High-level diplomats from several African nations gathered in New Delhi for a pivotal two-day investment meet on July 19. Close to 20 African countries were represented, with 40 ministers from nations such as Cameroon, Burkina Faso, Eswatini, the Republic of the Congo, Ethiopia, Gabon, Equatorial Guinea, Ghana, Niger, Malawi, Mauritius, Sudan, Namibia, Nigeria, and Sierra Leone.

The aim of the meet was to encourage private investment from India into African countries. Initiated in 2005, this initiative comes at an opportune time for India to strengthen its ties with Africa.

Existing Trade Relations

Let’s take a closer look at the opportunities India has today. This year’s conclave focuses on key areas such as infrastructure development, trade finance, education and training, agriculture and food processing, consultancy services, and healthcare.

Over the years, Indian companies have steadily increased their presence in Africa. Trade between Africa and India grew significantly, from approximately USD 7 billion in 2001 to USD 60 billion in 2017, making India Africa’s fourth-largest trading partner.

However, bilateral trade between India and the 48 countries of sub-Saharan Africa declined from USD 56 billion in 2020 to USD 47 billion in 2021. To bridge this gap, India will not only need to catch up but also adopt a more focused approach to managing these trade relations.

India’s Expertise

Take education and training, for instance. Africa boasts a large working-age population and a growing middle class—both of which present significant opportunities for India to add value. Much of India’s success has been driven by efforts to create the right environment for future generations. By educating and upskilling Africa’s youth through digital means, India can contribute to overall prosperity in the region.

The private sector plays a crucial role in this strategy, particularly in areas such as skill and capacity-building initiatives, healthcare, agriculture, and the digital revolution, as highlighted in a report by Brookings. With a determined government ready to support initiatives in Africa, now is an opportune moment for the Indian private sector to step up.

Advantages for Africa

Education and skill development do not have to be expensive. India is well-versed in both e-learning and e-skilling, with abundant talent and retired experts eager to share their knowledge. Unlike Western nations, India offers affordable solutions, and unlike China, it has a language advantage, with teaching conducted in English.

Numerous Indian startups provide technology training in flexible and innovative ways. Infyni, an e-learning platform, is poised to launch live online training courses in technology fields such as Python, Java Microservices, and Business Analytics in Africa.

“With our flexibility and ingenuity, we can scale when needed,” says Manoj Sinha, CEO of Infyni.

As the saying goes, a lot can be achieved by joining hands. ~ Anjana Das