India, Africa have potential to further trade, investment
The Dollar Business Bureau Commerce and Industry Minister Nirmala Sitharaman on Thursday said India and Africa should explore the potential sectors such as renewable energy, pharma and healthcare, to collaborate and thus further their trade and economic relations. The trade between India and Africa has grown at a CAGR of over 9% to $56.69 billion in 2015-16 from $51.67 billion in 2010-11. Although trade has witnessed decent growth, Sithraman said: “The newer sectors in which we can have greater interaction, engagement and productive relationship are renewable energy, pharmaceuticals and healthcare." Noting that global trade has been on a constant decline, India can explore the emerging and less-developed markets of Africa to enhance business between India and Africa. "We have to seize that opportunity and build ...
Swaraj pitches for Make in India to boost trade ties with Africa
The Dollar Business Bureau The government has asked Indian and African business enterprises to come forward and forge business partnerships in the backdrop of “Make in India” initiative in order to promote investments and boost bilateral trade. Speaking at the 3rd India Africa Forum Summit on Thursday, External Affairs Minister Sushma Swaraj pointed out that India and Africa need to extend cooperation and collaboration in several key sectors. Swaraj hoped that African countries will take more steps to attract Indian investments. “There was a time when India and Africa were one landmass, united by geology. Today, we are united by our common goal for progress, prosperity and peace around the world,” she said. On Wednesday, FICCI, in association with Exim Bank, ...
India-Africa Summit to bring developing economies closer at WTO
The Dollar Business Bureau The India-Africa Summit beginning on Monday is expected to open an array of opportunities for trade and investment even as the members participating in the event are keen on working “hand-in-hand” to safeguard their interests at World Trade Organisation and other global fora. Describing Africa as a “frontier of opportunity”, External Affairs Minister Sushma Swaraj said that India was interested in Africa’s economic growth and its integration with global economy and the country was willing to work hand-in-hand with the region to maximize mutual benefit. The four-day summit is expected to host hundreds of business delegations from African countries. “We have sought to complement our needs with each other’s strengths. Our partnership also encompasses a broad range of ...
