India's rising Africa bet: FDI outflows at $14 billion, shows data

Total trade between African nations and India was almost $100 billion in 2022-23

India is entwined with Africa in terms of trade and investments, having become one of the largest sources of investment in the continent, accounting for $14 billion in foreign direct investment (FDI) outflows as of 2021, according to the latest United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2023.

The African Union -- a continental union of 55 African countries -- was formally inducted into the G20 last week.

Additional data from the department of economic affairs reveals a skew in investments. The data is cumulative since 2000, and thus show different numbers from UNCTAD statistics, but