Overview

• Speaking at the CII India–Africa Business Conclave in New Delhi, Commerce Minister Piyush Goyal set a 2030 objective to lift two-way trade from about $82 billion in 2024–25 to roughly $164 billion.
• Priority areas include technology-driven farming, renewable energy, healthcare and other value-add partnerships to expand industrial capacity.
• Goyal highlighted an automotive opening, noting that Africa imports about $20 billion in vehicles annually while India supplies around $2 billion.
• He proposed greater Indian imports of African resources—such as petroleum, farm goods and critical minerals like cobalt and copper—to support manufacturing, including battery production.
• He promoted exporting India’s UPI digital payments to African markets to cut transaction costs and strengthen financial systems.