Doing away with the Banjul Formula, India now engages with all African countries through the summit. Indo-Africa Summit: First held in 2008, the Indo-Africa summit has evolved to be the official platform for India-Africa relations signifying greater cooperation in economic and strategic domains. The Gandhian freedom movement in India and South Africa further cement historical linkages between India and Africa India’s initiatives Historical Relations: India and Africa are bounded by South-South cooperation manifested in the Non-Aligned Movement. South Africa has been an important partner in BRICS given the increasing south-south cooperation and historical linkages between India and South Africa Multilateral Diplomacy: African countries are pivotal to India securing its bid for UNSC and NSG. Soft Power Diplomacy: India’s capacity building and humanitarian efforts in Africa have earned it great goodwill across countries and multilateral platforms in contrast to China’s chequebook diplomacy and closed model of development Nuclear Energy: Several of the African countries have reserves of Uranium and Thorium that can enable India to produce atomic energy given India gains access to them. The Indian-African Business Council has enabled greater cooperation in the Track 2 diplomacy between economiesĮnergy Security: Engagements with Africa for energy production and distribution can help diversify India’s dependence on West Asia for energy. Indian corporates are significantly involved in agri-businesses, engineering, construction, film distribution, pharmaceuticals and telecommunication. ![]() Africa hence offers India businesses a huge market for their goods and rich demographic dividend for production through foreign investments Emerging Market: World Bank notes that the African continent houses 6 of the world’s fastest-growing economies.
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