This article covers trade and investment between India and Cameroon: the trade agreement, bilateral trade figures by financial year, Indian companies and investment in Cameroon, business delegations and conclaves, and the sectors the brief identifies for future cooperation. It is based on the MEA bilateral brief of February 2025, and figures are as given in that brief.
Trade agreement
According to the MEA brief of February 2025, India and Cameroon signed a Trade Agreement in February 1968, which laid the foundations for bilateral trade arrangements. The brief states that India was the third largest buyer of Cameroonian products in 2023-24.
Trade figures
The brief gives the following figures in US$ million. Each line shows India's exports to Cameroon, India's imports from Cameroon and total trade.
- 2015-16: exports 191, imports 558, total 749
- 2016-17: exports 149, imports 359, total 508
- 2017-18: exports 194, imports 213, total 407
- 2018-19: exports 179, imports 344, total 523
- 2019-20: exports 228, imports 676, total 904
- 2020-21: exports 279, imports 202, total 481
- 2021-22: exports 403, imports 806, total 1209
- 2022-23: exports 553, imports 550, total 1103
- 2023-24: exports 454, imports 788, total 1242
- 2024-25 (up to November 2024): exports 294.01, imports 291.10, total 585.11
The figures for 2024-25 cover only part of the year, up to November 2024.
Indian companies in Cameroon
There are about 60 Indian companies with a presence in Cameroon, mostly engaged in trading general merchandise. Prominent companies named in the brief include:
- Mahima group: general trading and retailing
- Dee-Lite group: manufacturing of biscuits and plastics, supermarkets and imports from India
- Olam group: a Singapore-based group importing rice and other products
- Reddy Global: manufacturing of alcohol
- Africure: manufacture of pharmaceuticals
Indian companies Tata Power, L&T, MBH, Transrail and Kalpataru are working in the power sector. Many other pharmaceutical companies, including Sun Pharma, Strides, Ajanta Pharma, Troika and Microlabs, have representative offices in Cameroon.
The brief notes that most Indians in Cameroon trade in consumer durables brands such as LG and Hisense, and that an Indian company distributes pickups (ISUZU) made in India.
Indian investment
According to the brief, Indians have invested to the tune of US$ 25 million in plastics, cartons, biscuits, smelting of scrap, and the bottling and distribution of alcohol. Africure Pharmaceuticals invested USD 28 million in Douala to produce essential drugs for local consumption.
The Jindal group has obtained a concession for iron ore mining from an Australian company.
Business delegations and conclaves
The Confederation of Indian Industry (CII) sent multi-sectoral delegations to Cameroon in April 2024 and September 2024. The brief states that these visits identified further areas of potential collaboration and investment.
Cameroonian leaders have taken part in business conclaves in India:
- Prime Minister Mr. Philomen Yang, with seven ministers and a large business delegation, attended the CII-EXIM Bank Conclave on Africa in March 2013.
- Mr. Felix Mbayu, Minister Delegate to the Minister of External Relations, attended the CII-EXIM Bank Conclave in July 2022, and called on the Minister of State and the Director General of the International Solar Alliance.
- Mr. Mbayu attended the CII-EXIM Bank Conclave again in June 2023 and called on the Minister of State.
- As Minister Delegate for Foreign Relations dealing with the Commonwealth, Mr. Mbayu took part in the Conclave held in New Delhi in August 2024.
Areas identified for cooperation
The brief lists energy, oil and gas, agriculture, forestry, mining, healthcare, education, telecom and IT as key potential areas for cooperation and investment. Loans and credit lines financing projects in Cameroon are covered in the development article.