Tripartite Business Forum: India’s and Japan’s approach to Africa centered on building, not China-style ‘extracting’

The Japan-India-Africa Business Forum, held on 26 February in Tokyo, explored opportunities for both Asian powers to collaborate on Africa’s sustainable economic development, while leveraging their expertise in technology, finance, and industrial growth.
Co-hosted by Japan’s Ministry of Economy, Trade, and Industry (METI) and Nikkei, the event brought together over 2,000 participants from 46 countries to discuss trade, infrastructure, and capacity-building in Africa. Minister of economy, trade, and industry, Muto Yoji, launched the Japan-India Cooperation Initiative for Sustainable Economic Development in Africa during his opening remarks. This initiative aims to enhance Japanese investments in Africa, with a focus on fostering industrial growth, job creation, and human resource development across the continent.
India’s external affairs minister, S. Jaishankar, underscored the importance of building long-term, mutually beneficial partnerships with Africa. He emphasized India’s commitment to capacity-building, technology transfer, and skill development, contrasting its approach with “extractive models of engagement,” in an apparent reference to China’s activities in African states. Jaishankar also highlighted India’s $12 billion in concessional credit and over 200 infrastructure projects across Africa, which have significantly improved local economies and created jobs. Speakers from all three regions then discussed how to fully utilize the potential of the enormous growth markets in India and Africa, exchanged views on the challenges, the key role of public-private partnerships (PPPs) in strengthening business ties, and the outlook for building India as a business hub in this region.