Indo-African trade to scale up by 22 pc
The African ambassadors and high commissioners are wishing that
India reposes faith in the their country’s potential for it will
provide the latter with ready market, provided India sets the ball rolling and shares its expertise with them.
The bilateral trade between India and Africa is expected to climb by 22 percent in the coming two years, as per a paper released by ASSOCHAM.
According to Arun Agarwal, chairman of ASSOCHAM's Africa Committee, at present the bilateral trade between India and Africa stands around USD 45 billion, and it is projected to reach USD 55 billion by 2012.
The two-way trade between the two markets surprisingly stood around USD 5.2 billion in 2002-03.
Of the total exports from India, the share of agri-trade is around USD 15 billion. And Punjab’s share would is around USD 3 billion against the present level of USD 1 billion.
Africa is known for its perfect weather and moisture conditions for agriculture related activities. And Punjab plays a crucial role in resolving food security crises faced by many African countries.
The Minister of State for External Affairs, Preneet Kaur informed that India is aiming to tap opportunities in the agricultural sector in Africa.
There are many uncharted territories in the agri-business sector and India should look forward to tap them, Kaur elaborated
With regards to this, a high delegation of ambassadors and high commissioners from various African countries such as Ethiopia, Tanzania, Uganda, Zambia and Mozambique will be visiting Punjab.
The first step for increasing India-Africa relations was laid during the Africa-India Summit 2008. Since then we have improved bilateral relations manifold.
This delegation will be focusing on Indian agriculture sector exclusively.
Gennet Zewide, Ethiopia's ambassador to India said that their country needs investment in various fields of agriculture like irrigation, infrastructure, storage, transport, raw material etc. By offering expertise India will set the ball rolling and also will get a readymade market.
Thus far, the farmers of Punjab are responding positively as they have started ploughing thousands of acres of land in Ethiopia. That apart, they have also invested in the fields of mining, construction, floriculture and textiles.
The bilateral trade between India and Africa is expected to climb by 22 percent in the coming two years, as per a paper released by ASSOCHAM.
According to Arun Agarwal, chairman of ASSOCHAM's Africa Committee, at present the bilateral trade between India and Africa stands around USD 45 billion, and it is projected to reach USD 55 billion by 2012.
The two-way trade between the two markets surprisingly stood around USD 5.2 billion in 2002-03.
Of the total exports from India, the share of agri-trade is around USD 15 billion. And Punjab’s share would is around USD 3 billion against the present level of USD 1 billion.
Africa is known for its perfect weather and moisture conditions for agriculture related activities. And Punjab plays a crucial role in resolving food security crises faced by many African countries.
The Minister of State for External Affairs, Preneet Kaur informed that India is aiming to tap opportunities in the agricultural sector in Africa.
There are many uncharted territories in the agri-business sector and India should look forward to tap them, Kaur elaborated
With regards to this, a high delegation of ambassadors and high commissioners from various African countries such as Ethiopia, Tanzania, Uganda, Zambia and Mozambique will be visiting Punjab.
The first step for increasing India-Africa relations was laid during the Africa-India Summit 2008. Since then we have improved bilateral relations manifold.
This delegation will be focusing on Indian agriculture sector exclusively.
Gennet Zewide, Ethiopia's ambassador to India said that their country needs investment in various fields of agriculture like irrigation, infrastructure, storage, transport, raw material etc. By offering expertise India will set the ball rolling and also will get a readymade market.
Thus far, the farmers of Punjab are responding positively as they have started ploughing thousands of acres of land in Ethiopia. That apart, they have also invested in the fields of mining, construction, floriculture and textiles.
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