India/Africa trade has increased 10-fold since 2004

India's trade with Africa has increased 10 times in nine years, up from around US$ 7 billion in 2004 to approximately US$ 70 billion in 2013. This is the highest amongst all the regions such as Europe, America, Asia and the Commonwealth of Independent States, said an analysis report released by PHD Research Bureau, the research arm of PHD Chamber of Commerce and Industry. “With the increasing diversification of India's global trade towards emerging and developing countries, Africa has emerged as an important partner for India for trade and commerce in recent years,” said Suman Jyoti Khaitan, president of PHD. He said that Indian investment in Africa had ”increased significantly”, notably in agriculture, infrastructure, telecoms and mining. The country’s key investment destinations in Africa include Ethiopia, Egypt, Ghana, Kenya, Mauritius, Mozambique, Nigeria, South Africa, Sudan and Tanzania, commented Khaitan.