Source: Financial Times

India's minister with special responsibility for Africa has hailed a new era of Indian engagement and investment in the continent but firmly rejected talk of a race with China for its resources.

Indian traders often had an uneasy time in post-colonial Africa. But Anand Sharma, the minister for external affairs, told the Financial Times that India's relationship with Africa had undergone a "major shift".

"It is no longer a case of small traders coming out of India. It is Indian corporate giants which are coming, and Indian multinationals."

While India had close diplomatic ties with Africa in the second half of the last century, it scaled down the relationship after the cold war. But trade figures point to a reawakening of interest.

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Posted by pichu at June 7, 2007 3:29 PM