NEW DELHI, May 23 (Xinhua) -- Indian Prime Minister Narendra Modi on Tuesday hailed the country's improving relations with Africa, asserting that the continent figured on top of New Delhi's priority as "a growth pole."
"Trade between India and Africa has multiplied in the past 15 years, and doubled in the past five years to reach 72 billion U.S. dollars in 2014-15," he said while addressing a meeting of the African Development Bank in his home state of Gujarat in western India.
Modi said that Africa accounts for nearly one-fifth of Indian overseas direct investments between 1996 and 2016.
"India is the fifth largest country investing in the continent, with investments over the past 26 years amounting to 54 billion U.S. dollars," said Modi.
Modi also said that India is backing the establishment of the New Development Bank to promote collaboration with partners like the African Development Bank.
