New Delhi Challenges Beijing In Africa

April 2008 | Risk Summary

Prime Minister Manmohan Singh kicked off the first ever Indo-Africa Forum Summit in New Delhi on April 8 by announcing a Duty Free Tariff Preference Scheme for Least Developed Countries, a scheme under which India will unilaterally provide preferential market access for exports from the 34 poorest African nations. It is hoped that the summit will help to rejuvenate ties between India and Africa as New Delhi attempts to make up ground against China in the race to secure access to natural resources and food supplies. Between 1996 and 2006, bilateral trade between India and Africa increased from US$3.94bn to US$10.17bn, whereas Africa's trade with China rose from US$3.48bn to US$49.74bn.

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