India Seeks to Hike Africa Trade Volume

• India Seeks to Hike Africa Trade Volume

The Confederation of Indian Industry (CII), in conjunction with Government of India in a report, yesterday shared its goals of hiking up India-Africa bilateral trade volume to $150 billion and strengthening business and trade ties with the states of West Africa through the Economic Community of West African States (ECOWAS).

The Confederation of Indian Industry said this at the CII-Exim Bank Regional Conclave on India-West Africa Project Partnership conference which took place at Abuja, yesterday.

Amongst other goals, they also aim to enable African manufacturing to move up the value chain by enhanced collaboration between Indian and African enterprises, and also enhance Africa’s exports to India by optimal utilisation of Duty Free Tariff Preference Scheme.

The Project Partnership focuses on sustainable and inclusive financing, infrastructure, manufacturing and connectivity, mining, agriculture and food processing, services trade, and power and energy cooperation as sustainable development programs.

The Chair, CII Taskforce on Asia-Africa Growth Corridor and former Ambassador of India to Germany, Indonesia and Ethiopia, Gurjit Singh, during the occasion expressed the need for India and West Africa to form and develop partnerships to enhance bilateral trade and benefits associated with it.