In a bid to catch up with China in Africa, India is hosting the third India-Africa Trade summit in New Delhi between 26 – 29th October. The trade summit will seek to increase Indian investments into Africa, a feat China has been pursuing since the early 2000’s. New Delhi however woke up to the continent only after the 2008 financial crisis when she realigned strategies to diversify trade beyond the US and Europe. Since then, two-way annual trade has more than doubled to US$72 billion
Meanwhile, China has become by far Africa’s biggest trading partner, exchanging about US$184 billion-worth of goods a year, a growth of nearly 20 times trade since 2000 and almost three times the value of India’s trade in the region.