Africa can complement India’s need for critical minerals: Piyush Goyal

Chandigarh, August 21

Union Minister of Commerce and Industry Piyush Goyal said Africa can complement India’s need for critical minerals needed to some sectors like EVs. Goyal said this while addressing the Special Plenary with Trade Ministers at the 19th CII India Africa Business Conclave in New Delhi today.

Goyal highlighted the potential for collaboration in the mining sector given that Africa was rich in minerals. He emphasised the importance of sustainable mining practices and the value addition to minerals in both India and Africa through joint partnerships.

Goyal set an ambitious goal of doubling trade between India and Africa in the next seven years. He said there was huge potential for trade between African countries and India. The minister mentioned that 33 African countries do not participate in India’s Duty-Free Tariff Preference (DFTP) Scheme for Least Developed Countries (LDCs) and urged them to take its advantage.

Goyal emphasised India’s strengths in agriculture, pharmaceuticals, textiles, automobiles, and renewable energy align with Africa’s development needs. He also noted that Africa’s strengths in mining, tourism, agricultural products, and manufactured goods complement India’s growth requirements. The focus, he said, should be on equitable trade.

Goyal highlighted the potential of a technology-driven partnership between India and Africa, particularly in the IT sector. He urged the use of India’s Digital Public Infrastructure to drive deeper technology penetration in Africa, enhancing financial inclusion, social sector development, transparency, digitalisation, and job creation.

The minister highlighted the entertainment sector as an area with significant potential for mutual collaboration. He cited the example of Kili Paul from Tanzania, who gained popularity globally by engaging with Bollywood music. Goyal also underscored the potential for cooperation in sports and cultural exchange.

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