India-Africa trade to reach $117bn by 2020-21: Report
The Dollar Business Bureau India’s trade with African nations is expected to reach $117 billion by 2020-21 in the wake of improved economic relations and strong business opportunities, as per a report. From $24 billion in 2015-16, India’s exports to the African countries are likely to touch $70 billion by 2021-22, on account of rising complementaries, said industry body PHD Chamber of Commerce and Industry (PHDCCI) in a report. Imports from the African continent are also likely to rise to $47 billion in the next five years from $27 billion in 2015-16, the report said. PHD Chamber President Gopal Jiwarajka said, “India has been able to intensify its presence in African countries through a significant line a credit worth $10 billion for development projects in Africa over a five-year period.” “With continuous expansion in trade, widening ...
Market diversification behind Indias engineering goods export resilience in 2014
Bidhu Bhushan Palo | The Dollar Business While much remains to be done in India’s product diversification, market diversification in some sectors have helped the country tide over the global economic slowdown seen in recent years. According to a recent Reserve Bank of India (RBI) report, India’s trade performance improved significantly in Q1 of 2014-15 (to around 9% y/y), but declined by almost 50% in Q2 of 2014-15 due to weakening demand in major markets, triggering concerns about India’s trade balance. However, overall growth in April – September 2014 stood at around 6.5%, slightly better than the 6.3% seen in the corresponding period the previous year. However, export growth was restricted to a few sectors such as engineering goods, petroleum ...
South Asia uniquely positioned to become an export powerhouse: World Bank
Bidhu Bhushan Palo | @TheDollarBiz View of the Cyber Towers building in Hyderabad, India, which is considered as heritage building for the IT industry in South India. Services exports are forecast to become the mainstay of South Asia's exports in coming years South Asia’s robust performance in exports is likely to continue in the coming years led by increasing diversification of exports and economic growth in India, the World Bank says in a new report. South Asia’s exports have steadily grown in the recent years, and in 2013, export growth in Bangladesh, India and Pakistan outperformed “Export Tigers” such as China, Thailand, Indonesia and Malaysia. Source - World Bank South Asia’s exports are also growing in importance for the regional economies, a ...
