At a summit hosted for African leaders, India pledged USD5 billion in loans and grants as part of its “resource diplomacy” strategy. Its booming economy prompted India to follow the footsteps of China, the U.S. and the European Union, which are investing heavily in Africa for the right to tap the region’s oil and metal reserves. But that is not all. “We need Africa not only for oil but for political power too. We need African votes in the United Nations to get on to the security council,” explained Ajay Dubey, a professor of African Studies at Delhi’s Jawaharlal Nehru University. “But we do not have the money of the Chinese or the military might of the Americans. Therefore we have to rely on cooperating with African nations in information technology, agriculture, engineering. Areas where we have something to give,” he added.
Source: India joins queue for Africa’s resources (Guardian)