With just days to go for 2014 to end, a new study has projected a steady growth in India, which from every indication is likely to have some impact on its dealings with Africa which is also being seen as a growth zone next year.
The Standard Chartered Bank’s Global Research team has projected India to be “a positive surprise” compared to the situation in other parts of the globe.
"More importantly, sentiment is also rising sharply due to changes made by the new government to reduce red tape and promote investment," the team said.
Former Federation of India Chambers of Commerce and Industry (Ficci) president R.V. Kanoria said earlier this year that the Indian government has been proactive in its commitment to encourage investment in Africa.
"Indian investments in Africa have increased 14-fold in the past year and we are hoping that by next year it will rise to $100 billion," he said.
In addition to investment, India has also been active in capacity building and knowledge sharing, particularly in the area of private public participation (PPP) across the continent.