Heads of State or governments from India and 54 African countries – a third of humankind – participated in the 3rd India-Africa Forum in New Delhi which highlighted the ever-growing perspectives of India-Africa cooperation in agriculture, science and technology and global issues.
Taking advantage of China which is entering a phase of lower growth rates, India is currently the fastest-growing major emerging economy. Along with Africa as the continent of world’s future growth and India’s fastest growing investment destination – India imports 1/5 of its oil from Africa – the two ambition to “take relations (…) to new heights,” said India’s Prime Minister Narendra Modi.
India-Africa bilateral trade has multiplied 20 times in the last 15 years and doubled in the last five years to reach nearly $72 billion in 2014-2015, far less indeed than China-Africa’s $200 billion but growing faster. 270,000 Indians live in Africa and 25,000 African students attended Indian training. India is rising, and so is Africa.