India, Africa aim to double trade by 2030
India and Africa are teaming up to double their trade by 2030, aiming for a big boost in business together.
Union Minister of Commerce and Industry Piyush Goyal shared this at the 20th CII India-Africa Business Conclave in New Delhi, highlighting plans to work closer on things like renewable energy, healthcare, and value-added products.
Right now, India exports $42.7 billion worth of goods to Africa and imports nearly $40 billion back.
UPI in Africa?
Goyal pointed out that sectors like agriculture and vehicles have huge potential—Africa's $20 billion vehicle import market is especially attractive for Indian carmakers.
India also wants more African resources like critical minerals to help keep trade balanced.
Plus, there's talk of bringing India's digital payment system UPI into Africa to help Africa reduce transaction costs and strengthen financial systems.