2.2.1. Investments in Africa
♤ Latest UNCTAD figures show China to be a much bigger player in FDI in Africa as compared to India.
♤ However, India’s sustained effort is making an impact on Africa… India’s share of announced greenfield projects grew from 3.3% in 2003-08 to 6.1% in 2009-15. In the same period, the investment from China decreased from 4.9% to 3.3%.
♤ The 2017 African Economic Outlook, at the AfDB summit showed that China led greenfield investment in Africa for 2015-16 (USD 38.4 billion), while during the same year India invested USD 2.2 billion across 64 projects in Africa.♤ Chinese FDI has been accused of bringing in a lot of Chinese labour, which means that a large amount of earnings are repatriated, India’s relatively small presence does not show this pattern as yet.