India, Africa should look at doubling bilateral trade by 2030: Piyush Goyal

“India and Africa should look at doubling bilateral trade by 2030 from the current level of $82 billion,” Commerce and Industry Minister Piyush Goyal said on Friday (August 29, 2025). He also called for increasing cooperation in areas such as critical minerals, agriculture, technology and manufacturing.

The two-way trade increased from $56 billion in 2015-16 to $82 billion (India’s exports stood at $42 billion and imports were $40 billion) in 2024-25. “This is suboptimal trade despite huge opportunities,” he said, adding “we should look at doubling the trade by 2030. It is a bold target but achievable.”

The numbers show that there is a huge untapped potential between the two regions. “Looking at the current situation across the world, this is an ideal opportunity for us to relook at our engagement,” Mr. Goyal said at an industry chamber event.

He also said India can supply high quality milk products to Mauritius, which can help cool inflation of this commodity in the island nation. Mr. Goyal said Africa imports motor cars worth $20 billion and India’s share in this is only $2 billion.

“Delta of opportunity is there in this sector,” he said adding India can increase import of goods such as rough diamonds, gold, petroleum products, and pulses. African critical minerals such as cobalt and copper can help boost battery manufacturing in India.