By Rajesh Pandathil and Kishor Kadam
With the third India-Africa summit under way in Delhi, prime minister Narendra wants to turn his focus to a region where the country has not managed to tap to its full potential.
Ahead of the summit, Modi said the conference assumes significance considering the historic linkages between the two sides.
"From Oct 26 to 29, India Africa Forum Summit is being held here. On Indian soil, it is for the first that an event of such a big scale is being held. Leaders of 54 African countries and Unions have been invited. Outside Africa, this is the biggest convention," a PTI reported quoted him as saying in his monthly radio programme 'Mann Ki Baat'.
Modi said the population of India and Africa collectively forms one-third of the world populace and the relations between the two are deep.
Here are six graphics that explain the trade relation between India and Africa:
As per the data available with the government, in 2014-15 Africa trade contributed 9.4 percent of India's total trade - $71.65 billion of $758 billion.
Of India's total exports of $310.34 billion, Africa accounted for 10.6 percent or $32.8 billion. While in the country's imports, Africa's contribution was 8.7 percent ($38.8 billion of $447.96 billion).
South Africa is the top exporter from India with $5.3 billion worth items exported in 2014-15. Kenya and Egypt follow with Nigeria, the largest economy of the continent, at the fourth slot.
Interestingly, the country was the top importer to India in 2014-15. Almost all of the $13.68 billion imports from Nigeria was oil. From South Africa, India imported $6.4 billion worth of items including gold, precious metals and oil.
With $16.36 billion trade, Nigeria was the top African trading partner for India. South Africa, with $11.80 billion, came in at the second spot.
With Nigeria, India had a trade deficit of $11,002 - the top among the African countries. An article in Scroll today says India has to reimagine its ties with Nigeria by going beyond oil. "...Too much focus on oil risks stunting the development of the long-term relationship that should be a priority," the article says.
Published Date: Oct 27, 2015 11:48 am | Updated Date: Oct 27, 2015 12:53 pm