PremiumThe CII report said that since April 1996, India has invested $74 billion in Africa; however, these flows are concentrated in Mauritius and are majorly by public sector companies for energy and raw material assets
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A Confederation of Indian Industry (CII) report on Wednesday said that Indian investments in Africa can go up to US$ 150 billion by 2030.
The report said that since April 1996, India has invested $74 billion in Africa; however, these flows are concentrated in Mauritius and are majorly by public sector companies for energy and raw material assets.
“The resilience of the Indian and African economies and the many new emerging sectors driven by digital technologies and the green economy create a new set of opportunities between Africa and India that the businesses of both sides must leverage to the optimum.
With a strong synergistic economic cooperation agenda, CII believes that we stand at the cusp of rapid acceleration in bilateral economic ties," stated Chandrajit Banerjee, Director General, CII.
For healthcare and education, financing options from international finance institutions can help to drive new infrastructure creation as well as skill development, the report added.
Regional production networks and local supply chains coming up under African Continental Free Trade Agreement (AfCFTA) will be important destinations for Indian investments as well, according to CII.