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India has decided not to pursue free trade agreements (FTAs) with the African continent, instead opting to deepen commercial ties with trading blocs and customs unions, officials said on Saturday. The move comes as preparations are underway for the upcoming India-Africa Forum Summit (IAFS-IV), which will be attended by several African heads of state and government.
India's cumulative investment in Africa has reached $80 billion, making it one of the major investors in the continent. The country is intensifying engagement with customs unions such as the Southern African Customs Union (SACU), which allows duty-free movement of goods within member states.
The India-Africa Forum Summit, scheduled for May 28-31, will include segments on business, culture, security, and defence, with a focus on areas such as agriculture, energy, and critical minerals. Separate sessions are being scheduled for foreign ministers and a leaders' summit.
The summit is expected to lead to concrete outcomes, including business initiatives and a joint statement or vision statement. Indian officials have intensified engagements with African counterparts in recent weeks, with meetings between senior officials to discuss details of the summit.
The summit will conclude on May 31, with officials expecting significant outcomes in areas such as trade, security, and defence cooperation. The Indian government will likely release a statement outlining the key takeaways and agreements reached during the summit.