India’s earnings from IT, agriculture from Africa may reach $160 billion by 2025

NEW DELHI: India's revenue from Africa can potentially grow four-fold to $160 billion by 2025 through greater presence in sectors such as IT, agriculture, infrastructure, pharmaceuticals and consumer goods, according to a McKinsey report released Monday. India can aspire to capture almost 7% of the IT services market, 5% of the FMCG space, 10% of the power sector, and 2-5% of the agri-allied services business in Africa, said the report -- "Joining Hands to Unlock Africa's Potential A New Indian Industry-led Approach to Africa" "We believe India's strengths and experience of operating in similar capital constrained conditions will be of great value to Africa. Africa needs constructive foreign investment and holds the promise of long-term business for India," said Noel Tata, chairman of CII's Africa Committee, while releasing the report.