India and Africa are set to focus on expanding trade and investment in four key sectors—automobiles, agriculture, pharmaceuticals, and logistics—according to Commerce Secretary Sunil Barthwal, speaking at the CII India-Africa Business Conclave on Thursday.
Barthwal highlighted that bilateral trade between India and Africa reached USD 100 billion in 2022, with a target to double this figure to USD 200 billion by 2030.
He noted that the African Continental Free Trade Area (AfCFTA) has identified these sectors as having significant potential for growth through increased collaboration.
"We firmly believe these sectors offer substantial opportunities for investment, trade, technology transfer, and capacity building between our regions," Barthwal said. In agriculture, he pointed out opportunities for trade and cooperation in processed foods and seed technology.
Barthwal also highlighted that India’s pharmaceutical exports to Africa amounted to USD 3.8 billion in 2023, with potential for increased trade in affordable medicines and healthcare solutions.
Africa’s role as a supplier of critical minerals—such as cobalt, copper, lithium, nickel, and rare earths was emphasised, noting their importance in clean energy technologies and electric vehicle batteries. Barthwal suggested that India could share its logistics expertise to enhance trade efficiency.
Dammu Ravi, Secretary (Economic Relations) at the Ministry of External Affairs, added that the Duty Free Tariff Preference (DFTP) scheme has not been fully utilised by Africa. He urged Indian businesses to explore manufacturing opportunities on the continent and called for improved information exchange regarding African laws, incentives, and policies.
Both officials underscored the need for stronger economic ties and greater collaboration within the World Trade Organization to support this expansion.
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