DGFT to lead 60-member business delegation to Africa
The Dollar Business Bureau
Indian business delegates and government officials will represent several key industries, including agriculture, healthcare & pharma, infrastructure, automotive and educationAn over 60-member delegation of businessmen, led by the Director General of Foreign Trade, will participate in a business forum 'Namaskar Africa 2015' in Mozambique with a view to enhance economic ties between India and Southern African countries. ‘Namaskar Africa’ is a joint initiative of FICCI and the Indian government to promote economic cooperation by engaging directly with African communities. This year, the forum is scheduled to be held on November 25-26 in Mozambique. “The event is expected to enhance and diversify India’s economic engagement with this region and position Mozambique as a preferred destination for investment and trade,” FICCI said in a statement. Southern Africa is the second largest trading bloc for India in the five sub-regions of Africa and accounted for about 30% of India’s trade ($21.57 billion out of $71.78 billion in Africa) in 2014-15. Mozambique accounts for 25% of India’s total investments in Africa. India’s bilateral trade with Mozambique was $2.4 billion during the previous fiscal. Besides Mozambique, other Southern African countries that are expected to participate in the event include South Africa, Swaziland, Zambia, Zimbabwe and Mauritius. Indian business delegates and government officials will represent several key industries, including agriculture, healthcare & pharma, infrastructure, automotive and education. Earlier regional editions of this forum was organised in the Western Africa (Nigeria), Eastern Africa (Kenya) and Central Africa (Republic of Congo).
November 21, 2015 4:36pm IST
to success.