New Delhi: India and Africa are scripting a new chapter in their economic partnership, with bilateral trade rising from $7 billion in 2001 to more than $98 billion in 2023, while cumulative Indian investment across the continent has surpassed $75 billion, according to figures compiled by the India Africa Entrepreneurship Forum (IAEF).

The investments span key sectors including telecommunications, pharmaceuticals, infrastructure and agriculture, reflecting India’s steadily expanding commercial engagement with Africa.

Adding further momentum, the City of Cape Town reported that trade between Africa and India exceeded $100 billion during the 2024-2025 financial year, up sharply from $56 billion in 2019-2020. James Vos, the city’s Mayoral Committee Member for Economic Growth, described the growth as “the first of greater advances,” according to an Africa News Agency (ANA) report.

The sixth India-Africa Entrepreneurship & Investment Summit, held in Cape Town from July 13 to 15, 2026, brought together delegates from 26 countries for high-level discussions, business meetings and sector-specific working groups. Deliberations focused on regional investment, digital skills, pharmaceuticals, renewable energy, green industrialisation, climate-smart agriculture, fintech ecosystems and opportunities arising from the African Continental Free Trade Area.

According to the IAEF, India and Africa together represent a combined economic potential approaching $7 trillion, with expanding opportunities in healthcare, artificial intelligence, fintech, climate technologies, manufacturing, logistics and digital infrastructure.

A major highlight of the summit was the release of the IAEF’s list of the 100 most influential Indian-origin entrepreneurs in Africa, recognising business leaders from countries including Kenya, Ghana, the Democratic Republic of Congo, Botswana, Madagascar and Mauritius. Among those featured was Chetan Chug, Chairman of the Winmart and SOMIKA Group in the DRC.

The initiative also underscored the pivotal role of Africa’s estimated three-million-strong Indian diaspora, describing it as a historic bridge for trade, investment and people-to-people engagement.

The Cape Town summit came nearly six weeks after the fourth India-Africa Forum Summit in New Delhi, where Indian officials estimated cumulative investment in Africa at around $80 billion between 1996 and 2025, supported by more than 190 Lines of Credit worth over $10 billion across 41 African countries. These initiatives span drinking water, agriculture, transport, energy and digital connectivity.

The difference between official and private-sector estimates illustrates the complexity of measuring a partnership built over decades through public financing, concessional credit and sustained private investment.