In the biggest gathering ever of African leaders and heads of state together anywhere in the world, 50 of the 54 African heads of state will attend the India Africa Forum Summit in Delhi next week. This is the largest gathering of heads of state in India after the 1983 NAM conference in Delhi. The idea behind the initiative is to get greater access to the newest growth market globally. While China, the US and the European Union have a greater volume of trade with Africa, India is no pushover at over $70 billion annually and rising.
Over the years, Indian companies have been investing in Africa across industries, including telecommunications, oil & gas, mining and even agriculture. The biggest Indian investment in Africa was when Bharti Airtel acquired the African assets of Zain Telecom for $10.7 billion in 2010.