The India-Africa summit which is on shows India’s growing interest in forging new ties with the African nations which are attending the event. The summit is considered to be India’s most important and extensive outreach initiative. However, China has a distinct edge over India in the attempt to foray into the African market which has a rich potential. India’s commitments need to be supported in the long run with ambitious investments embracing finance, technology and infrastructure. The country is banking on the slowing down of the Chinese economy and is targeting to step into the breach. But how in the present circumstances, can India beat China in the race for a foothold in Africa? Since the first summit in 2008, annual trade between India and Africa has doubled to touch $72 billion whereas trade between China and Africa is said to have touched the figure of $200 billion. On a visit to the African Union in 2014, Chinese Premier Li Kequiang declared that his country was aiming to hit a trade volume of $400 billion. Its direct investment is slated to increase to $100 billion by 2020. Against this background, India, weighed down with poverty, is unlikely to do wonders in the vast region.
India would do well to invest its limited resources in its immediate neighbourhood to maximize gain. Afghanistan comes as a top priority. Rescue operations in Nepal following the earthquake may also yield reach dividends. For India, Africa is a far cry though the prospects may be extremely inviting.
