Logistics, services and tech to power India-Africa trade growth
India and Africa aim to double bilateral trade by 2030, leveraging logistics, services, and technology for growth.;
"Africa must not be just a source of raw materials, but lead in value creation and sustainable growth along with India," said India’s Minister of Commerce and Industry, Piyush Goyal.
The 20th CII India Africa Conclave underlined the urgent need to unlock the untapped trade and logistics potential between India and Africa, with India's Minister of Commerce and Industry, Piyush Goyal, setting an ambitious target of doubling bilateral trade by 2030.
Goyal highlighted that current trade between India and Africa stands at around $82 billion, up from $56 billion a decade ago, but still below potential. He stressed that the balance of trade remains fair, with India exporting $42.7 billion worth of goods while importing nearly $40 billion from Africa.
Breaking down the numbers, West Africa accounts for $24 billion in bilateral trade, followed by the South African Customs Union at $20 billion. East Africa contributes about $16 billion, while trade with Central Africa remains low at just $2.6 billion. Goyal noted that these figures reveal a significant scope for expansion across diverse regions of the continent.
The minister emphasized key areas where India and Africa could complement each other rather than compete. On the African side, critical minerals, petroleum, and agricultural products present opportunities for stronger exports to India. Conversely, India can supply cost-competitive automobiles, pharmaceuticals, engineering services, agricultural technology, and IT solutions to African nations.
Logistics was flagged as a critical enabler to bridge these opportunities. Goyal said reducing non-tariff barriers and strengthening connectivity would be essential to facilitate smoother flows of goods and services. He also highlighted the scope for cooperation in developing value chains, enabling Africa to move beyond raw material exports into value-added sectors, supported by Indian expertise in manufacturing and industrialization.
In services, India’s digital solutions, particularly its Unified Payments Interface (UPI), were positioned as tools that can enhance cost efficiency in financial transactions across Africa, lowering remittance costs and supporting inclusive growth.
“Together, India and Africa represent over two billion people and one-third of the global population. Our partnership in trade and logistics can redefine global supply chains and create shared prosperity,” Goyal said.
The conclave concluded with a call for governments and businesses on both sides to scale up trade rapidly and position India-Africa relations as a model for South-South cooperation in the decade ahead.