trade with The International Monetary Fund ( IMF) forecasts t hat si x of t he 10 highest-growing economies between 2012 a nd 2 017 wil l be Africa n economies.
The value of bilateral trade between India and Africa jumped from $5.3bn in 2001 to $12bn in 2005 and to $63bn in 2011 – higher than India’s trade with the US at $56bn. By comparison, t he tota l va l ue of bi l atera l t r ade between China and SA approached $60bn in 2012.
Indo-African trade is projected to reach $90bn by 2015, with major private i n v e s t me n t s in the telecommunications, IT, energy and automobile sectors. Sub- Saharan Africa is projected to grow at 5.6% and India at 6.3% in the next f ive years, while SA is set to grow at less than 2%.