With the issue of piracy being of "considerable concern" for New Delhi, India is also considering extending technical assistance to Somalia in developing a counter piracy policy and strategy.
The assistance, which will be provided through the World Food Programme, is in continuation of New Delhi's commitment to the progress and development of Africa.
India has also contributed USD 1.5 million to the African Union (AU) Trust Fund on Somalia and USD 0.5 million to the UN Trust Fund.
This is part of the assistance announced by the Prime Minister earlier in May for augmenting the African Union Mission in Somalia (AMISOM), a release from the Ministry of External Affairs said.
It said that India would be cooperating with Somalia in capacity building in areas such as fisheries, IT and agriculture.
India is firmly committed to the progress and development of Africa, it said.
"Our economic package of USD 5.7 billion for the African countries, over the next three years, is demonstrative of our time tested ties and commitment," the release said.