Status of trade with African countries
India’s total trade with the African region during 2017-18 was USD 62.69 billion (8.15% of India’s total trade with the World). India’s share of exports to African countries as a percentage of India’s total exports to the world was of the order of 8.21% in 2017-18. Africa region’s share in India’s total imports from the World accounted for 8.12% in 2017-18.
Opportunities with Africa
Today, African countries present immense opportunities for India with the world’s largest land mass, 54 countries, a population growing to be almost equivalent to that of India, huge mineral resources, oil wealth, a youthful population, falling poverty levels and increasing consumption patterns.
Indian diaspora in Africa
As per the latest available estimatesthe current strength of the Indian Diaspora in the African countries is 2.8 million out of those 2.5 million are PIOs and rest 220967 are NRIs.Total overseas Indians are 30.83 million of which 17.83 million are PIOs and 13 million are NRIs. (Ministry of Overseas Indian Affairs, 2016). Indian Diaspora in Africa constitutes 9.11% of the total Diaspora of India.
(Adapted from PIB)