Suits and Trade Pursuits..! Sharp strategies boosting India-Africa trade ties march to new dealings

News Bharati    08-May-2019
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New Delhi, May 8: Viewing to build an effective engagement with the Indian Diaspora in Africa, further deepening and strengthening India-Africa trade ties, the Indian High Commissions and embassies of eleven African countries had a two day digital conference with the Indian business community there.

 
The DVC held in Tanzania, Uganda, Kenya, Zambia, and Mauritius, Nigeria, Mozambique, Ghana, South Africa, Botswana, and Madagascar was attended by over 400 members of Indian business community.
 
India’s total trade with the Africa during 2017-18 was 8.15% of India’s total trade with the World. Similarly the share of exports as a percentage of total exports to the world was 8.21% in 2017-18, imports being 8.12%. “Africa has a huge demand for new business models for market entry, stable market access, entrepreneurship and investments in transport, telecom, tourism, financial services, real estate and construction”, the Commerce Ministry said in its statement.
“This initiative emphasizes the need for a multipronged strategy for further enhancing trade and investment ties between the two regions. For formulating an effective export strategy it is imperative to engage the Indian business community in Africa for mutual gain for both sides as trade relations between the people of same origin instill greater confidence amongst trade partners”, it added.
 
Formulating a strategy to enhance India-Africa Trade & Investment, the officials discussed some major issues highlighted by the community and has leveraged further in order to ensure that the strategy is effective.
 
The Indian community in Africa is playing a vital role in all fields like politics, business and education. The inherent strength of India in Africa is its rich and vast Diaspora which has established strong links with the continent, the statement signed off.