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

• Piyush Goyal calls for doubling India–Africa bilateral trade by 2030.
• India’s exports to Africa: USD 42.7 billion; imports: USD 40 billion.
• Complementarities identified in agriculture, healthcare, critical minerals, renewable energy, IT and services.

GG News Bureau
New Delhi, 29th Aug: Union Minister of Commerce & Industry Piyush Goyal on Friday called for doubling India-Africa bilateral trade by 2030, emphasizing value addition, technology-driven agriculture, renewable energy, healthcare, and affordable mobility solutions. He was delivering the keynote address at the Valedictory Session of the 20th CII India-Africa Business Conclave in New Delhi.

Goyal said the idea of the conclave, seeded two decades ago, has matured into a defining platform for strengthening India–Africa ties in trade, investment, and industrial growth.

Balanced trade but untapped potential
India’s exports to Africa currently stand at USD 42.7 billion, while imports are around USD 40 billion. Calling this “fairly balanced,” the Minister underlined the vast untapped opportunities for scaling up engagement. “This demonstrates the opportunity we have missed out on over the years and the scope for expansion today,” he said.

Complementarities across key sectors
Goyal highlighted complementarities in agriculture, food security, education, skill development, R&D, healthcare, pharmaceuticals, and renewable energy. He stressed that India and Africa need not compete in every sector but rather leverage complementarities for mutual benefit.

Affordable mobility: A big opportunity
Noting that Africa annually imports USD 20 billion worth of motor vehicles, of which India currently supplies only USD 2 billion, Goyal said Indian manufacturers can fill this gap with cost-competitive, fuel-efficient, and eco-friendly mobility solutions. He stressed that Africa could, in turn, support India through critical minerals, petroleum products, and agricultural commodities, creating a balanced exchange to fuel growth on both sides.

Shared prosperity and global south leadership
The Minister underlined that Africa, with its billion-plus population, is on a growth path similar to India’s vision of Viksit Bharat 2047. Recalling India’s support during the COVID-19 pandemic and citing the potential of UPI to strengthen Africa’s financial systems, he emphasized that India–Africa ties are based on friendship and cooperation.

He also urged African nations to join hands with India at multilateral platforms like the WTO, positioning the Global South as the true voice of the developing world.

Inviting deeper collaboration, Goyal concluded: “Our relationship is not just about history or trade — it is about shared dreams, shared challenges, and shared solutions. Together, we can transform our economies, empower our youth, and ensure prosperity for every citizen. The future is ours to capture.”