Proactive approach required to boost Indias trade with Africa
Bidhu Bhushan Palo | The Dollar Business Africa’s GDP is expected to grow to around $5-6 trillion by 2025 Despite the gains India has made in bilateral trade with Africa in recent years, there exists a substantial bilateral trade potential for India and Africa in the coming years. According to the Ministry of Commerce, India’s exports to Africa stood at around $23.3 billion in April – November 2014, which is up around 16% y/y and accounts for around 11% of India’s total exports during the period. India’s imports from Africa have also grown around 13% y/y to around $28 billion in April – November 2014. Significantly, India’s trade with Africa has grown during a period when exports to traditional markets ...
