Two Studies, Same Verdict On India's Africa Potential

It also identifies 10 common priorities that cut across the continent and argues that realisation of this vision depends ultimately on pragmatic leadership, the quality of governance and how institutions work.

Madavo, who is also a visiting professor in the African Studies Program at Georgetown University in Washington, further says if these are adhered to, the average per capita income of Africans will increase six-fold by 2050.

He also maintains an additional 1.4 billion Africans will join the middle class, even as the number of poor will reduce 10-fold, with Africa's share of the global gross domestic tripling during this time.

Speaking specifically about India in Africa's context, McKinskey says the Asian giant's attempts to tap into Africa's growing economy has so far been industry-led and suggests its government and its various agencies must collaborate with African counterparts.

It also says the Indian government can review existing bilateral trade agreements in the light of existing circumstances and help build a conducive business environment, while strengthening the tertiary education landscape.

"Indian industry could aspire to achieve $150 to $180 billion by 2025, up from $35-$40 billion in 2013," it says, adding a 5-10 percent of the market share in consumer goods, IT, infrastructure and agriculture sectors is within reach by 2025.
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