India Africa Forum Summit recently concluded in New Delhi. The India Africa Forum Summit(IAFS) becomes important for interview purpose as well as general awareness purpose. It witnessed new partnership and a beginning of new friendship to the world's one of the least explored nations. India is looking at the bigger picture of growth in africa and it may become successful as the exposure was more in the summit. Now let us read the full story of India Africa Summit.
The India Africa Forum Summit witnessed a large gathering with 54 nations participating out of which 40 head of the states participated. Such an unusually large gathering of delegates strengthened, at least symbolically, the resolve of India and Africa to widen and deepen their partnership at the bilateral as well as continental levels.

Key Features/Grants
- In addition to the $7.4 billion concessional credit pledged in 2008, India has announced credit of $10bn over a period of five years
- India will offer grant assistance worth $600 million, which will include $100mn for the India-Africa development fund and $10mn for an India-Africa health fund
- India has announced 50,000 scholarships to African students to pursue their studies in India.
- India will increase its cooperation with Africa on maritime security to counter “terrorism and extremism.”
- "Trade and economic exchanges between India and Africa are a vital component of our all-round relationship with this rising continent. The total trade figure of about $72 billion in 2014-15 - though impressive as it signifies more than ten-fold growth in a decade - is still below its potential considering the size of India and Africa and a combined population of over 2.3 billion people, representing a huge consuming market for all sorts of goods and services," Swaraj said

After embarking on the course of reforms in 1991, India’s economy has registered remarkable growth with an annual average of over 6 per cent. Strategic mineral commodities, especially oil, became essential for India’s growing and energy-hungry economy. This prompted India to actively forge relationships with resource- and oil-rich countries such as South Africa, Morocco, Egypt, Sudan, Nigeria and Angola. Africa’s key minerals, such as uranium, gas, copper, iron ore, phosphates and platinum, have also been crucial for India’s growth. Likewise, India’s technology, suitable for tropical conditions, and investment are required in Africa for developmental purposes. Indian capital, private as well as public sector, has already entered different parts of Africa. However, deceleration in the Chinese economy may open up a window of opportunity for India to make further inroads in Africa.
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