Agenda 2026: Critical Minerals, Local Currency Trade Key To India–Africa Ties Amid Unilateralism

While the continent sits on a pile of critical minerals, the expertise required to efficiently mine them is something it is looking for.

“This is one area where India and African nations can collaborate even more,” Credrick C Crowley, Minister  Plenipotentiary and Deputy High Commissioner, South African High Commission, told The Secretariat.

Besides critical minerals, Africa is also home to 60% of the world’s renewable energy reserves. 

Africa is gifted with abundant sunshine. According to Aninver Development Partners, despite Africa holding 60% of the world’s best solar resources, solar power accounts for only about 3% of its electricity generation.

“India with its focus on green energy will be able to leverage the abundant solar resources that Africa offers,” Crowley said.

 India-Africa Ties Amid An Uncertain Global Order

Amid the sudden rise in unilateralism, the India-Africa Summit will be critical in cementing the voice of the Global South and providing a push to the BRICS (Brazil-Russia-India-China-South Africa) bloc as well.

“Unilateralism is on the rise and next few years will be crucial as there is a gradual replacement of the existing dominance of power,” Crowley, in a freewheeling chat, said.

“Free trade, which has been the essence of world order and development are being targeted today,” Crowley said, adding that the existing trade pattern continues to reflect the colonial era.

“It is changing now,” he said.

Africa would be keen on collaborating with India especially in areas related to health, pharmaceuticals, digitisation and clean energy.

Bilateral trade between India and Africa touched US$ 103 billion in 2024-25 — a 17 per cent increase year on year.

Crowley also pointed out that India and South Africa, which has a strong Indian diaspora, is now looking to deepen trade in local currency. “BRICS was never about de-dollarisation, the thrust was and is on expanding use of local currencies, something that will give cushion to domestic economies in case of adverse situations,” Crowley said.

The African Union And Its Market 

The African Union was made a permanent member of the G20 bloc under India’s presidency in 2023.

The African Continental Free Trade Area (AfCFTA) which came into being in 2021, can serve as a gateway to a 1.3 billion strong population and a ready market.

According to a report by the Confederation of Indian Industry, Africa has been one of the world’s fastest-growing regions over the past decade, and by 2030 it is expected to have an estimated US$ 6.7 trillion worth of consumer and business spending.

This demographic growth translates into an expanding consumer base and a growing young workforce, presenting vast market opportunities for goods and services, the report said.

Modi In Africa

From being driven by his Ethiopian counterpart Abiy Ahmed from the airport to Prime Minister Narendra Modi being conferred the ‘Great Honor Nishan of Ethiopia’ – the highest award of the African nation, has raised interest among the industries and businesses in Africa as they seek greater collaboration with India.

The visit by Modi was his third to Africa in 2025 alone. Speaking at the Ethiopian Parliament, Modi said that India and Ethiopia were natural partners.

“"Our vision is of a world where the Global South rises not against anyone, but for everyone. A world where development is fair, where technology is accessible, and where sovereignty is respected. A world where prosperity is shared, and peace is defended,” Modi said.

In July, Modi also received the ‘Officer of the Order of the Star of Ghana’ – the national honour of the country.