With Asian giants like China, India and Southeast Asia witnessing a stagnation and Projections of increase in working age population, well-endowed natural resources and increasing investments the next big growth story is expected to be of Africa.
India’s Influence in Africa
- India has been engaging with Africa through India Africa Forum Summit (IAFS) with focus on-
- Development partnership,
- Investments (India is fourth largest Investor),
- Agriculture, Climate Change,
- Peacekeeping and security, Open and free Oceans,
- Cyber Security, and digital revolution
- Just, representative and democratic world order – Expansion of UNSC etc.
- Competing with Chinese influence
- Asia-Africa Growth Corridor (AAGC) is yet to be implemented effectively on the ground.
- Projects have mainly been Government led.
- Indian projects have mainly been Stand-Alone with slow implementation in contrast to the Chinese projects.
- Trade relations have not picked up.
- Indian companies fail to compete with Chinese investment and cheap exports to Africa.
To further boost its presence India should focus on investments in Human Capital, Collaboration with NGOs to implement Development projects, Supporting Private Sector companies with a focus on faster implementation of Projects.