How does india see its place in the economic space of rising natural resource rich africa?
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An alliance between a nation with a billion people, with increasing demand and in need of resources, and an underdeveloped continent that is rich in natural resources would be mutually beneficially to all concerned. This is basic premise on which the relations between Africa and India have evolved. For a resource-strapped nation like India, an entire continent in the nascent stages of development like Africa holds out innumerable possibilities.
While China may be Africa’s largest trading partner, India occupied a respectable 14.1% share in Africa’s overall foreign trade as of 2011. Of this share, a whopping 66% of the bilateral trade is only of mineral fuel and lubricants and 7.3% being crude material excluding food and fuels. Hence, it can be observed that even the bilateral trade is dominated by trade of natural resources like fuels, minerals etc.
While China may be Africa’s largest trading partner, India occupied a respectable 14.1% share in Africa’s overall foreign trade as of 2011. Of this share, a whopping 66% of the bilateral trade is only of mineral fuel and lubricants and 7.3% being crude material excluding food and fuels. Hence, it can be observed that even the bilateral trade is dominated by trade of natural resources like fuels, minerals etc.
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