India-Africa Brief

India-Africa Brief

5 August 2015

The African continent has moved to the centre of global economic discussions in the last decade. This movement has been accompanied by a paradigm shift in the discourse around the continent - the ‘hopeless’ continent has turned into the ‘hopeful’ continent with potential for economic growth. As an extension of this global interest, India has also increased its engagement with the continent. The extent of Africa’s importance in the Indian development cooperation stratagem is demonstrated by the promise of LOCs worth over US$ 8 billion made by the Indian government to African countries between 2008 and 2011. IDCR calculations have highlighted a substantial disparity between the promised amount and the operative Lines of Credit, as only US$ 4.3 billion dollars were available as LOCs to African countries between 2004/05 and 2011/12. Despite the disparity between the amounts, African countries currently constitute a prominent position in Indian development cooperation efforts, receiving 53 percent of the operative Lines of Credit by 2011/12. This new emphasis on Africa and the changed modalities of development cooperation are based on overarching changes in Indo-African engagement that have occurred since the turn of the century.

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