India Africa business summit

India hosted the India-Africa Summit in October that saw representatives of 54 African nations including heads of state and government of around 40 countries and powerful African Union participating in the event.

India on Thursday offered a concessional credit of USD 10 billion to Africa over the next five years and a grant assistance of USD 600 million even as Prime Minister Narendra Modi made a strong pitch for deeper ties in key areas of counter-terrorism, climate change and UN reforms.

Both sides agreed to enhance cooperation through training and collective negotiations on global trade issues, including at the WTO, to protect and promote legitimate interests of developing countries.