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, ...
Exim Bank Lines of Credit for East Africa to Boost Indias Exports
Satyapal Menon | @TheDollarBiz Mombasa Port in Kenya. Kenya accounts for over 63% of India’s total exports to the EAC. The Export Import Bank of India says that Lines of Credit (LOCs) for the East African Community (EAC) is likely to strengthen India’s position as the top exporter to a region considered a virgin territory for investments and infrastructure development, and as a gateway to rest of Africa. The EAC is a regional group comprising the Republics of Burundi, Kenya, Rwanda, Tanzania, and Uganda. It is considered as a single market with around 125 million consumers, and is among the world’s rapidly growing economic regions. During 2002-2012, global trade of EAC surged more than five-fold from $8.9 billion to $49.3 billion, ...
