India-Africa Partnership Boosts Global Rebalancing and Global South Strength

22 Aug, 2024

India-Africa Partnership Boosts Global Rebalancing and Global South Strength

Vice President Jagdeep Dhankhar highlighted India's expanding diplomatic presence in Africa, now with 46 missions following the recent opening of 16 new ones. This growing engagement underscores the potential for the India-Africa partnership to drive accelerated global rebalancing and strengthen the Global South, fostering global peace and harmony. Dhankhar emphasized that India’s involvement is rooted in historical non-expansionist principles and aims to bring positive global changes for humanity.

At the 19th CII India Africa Business Conclave, Dhankhar noted that a resurgent Africa combined with India's growth could significantly boost South-South cooperation, particularly in clean technology, climate-resilient agriculture, maritime security, connectivity, and the green economy. He also mentioned India's support to Africa during the COVID-19 pandemic through medical supplies and vaccines, and highlighted the strong defense ties and significant investments, totaling over $12.37 billion, in infrastructure projects across 43 African countries.

The IMF has raised concerns about China's lending practices in sub-Saharan Africa, criticizing the harsh terms and lack of transparency. The IMF’s report indicates that China's economic ties with Africa, including major trade and investment, have significantly impacted the region’s debt landscape. The average debt ratio in sub-Saharan Africa has surged, with many low-income countries facing high risks of debt distress.