Joint report by the African trade policy center and confederation of Indian industry
Africa and India are increasingly becoming more prominent partners in each other’s trade with significant growth in the market shares of their respective imports and exports. The advent of globalization and increased trade integration has strengthened trade between the two partners. In the present report, the effects of mega-regional trade agreements, particularly the regional comprehensive economic partnership (RCEP) a proposed free trade agreement involving India on Africa-India trade relations, are examined. In the first section of the present report, a trade policy context is provided through an overview of Africa–India trade and investment. The current platforms on which India and Africa engage, such as the duty free tariff preference scheme that India has for least developed countries (LDCs) are then explained. In section II, ways to boost Indian investment in Africa from an Indian industry perspective are discussed. Some enablers and disablers of Africa–India trade, including African regional integration, the impact of the Asia Africa growth corridor, lines of credit extended by Export-Import (EXIM) Bank and India’s overall development cooperation, are given.
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