Saraf list India’s vast export basket
The Indian High Commission to Nigeria, Abhay Thakur has called for the expansion of African banks in India to make it easier to trade.
“We should look at expanding African banks in India as it will make trade easier,” said the envoy at the inaugural session of ‘3D Expo and Conference on Enterprising Africa: The Land of Opportunities’ held on 24 Sept 2020.
“If we are looking towards Africa, we must look for how to boost the local expertise because Africa needs to be able to collaborate with India on a sustainable basis,” said Thakur at the expo organized by the Department of Commerce with PHD Chamber of Commerce and Industry as a strategic partner.
He continued: “We have to look at ways and means in that we can not only export but enter into durable long-term partnerships. We need to formulate projects, solutions for Africa rather than only goods, and these solutions need to be beneficial.
“We need to significantly boost our exports and take advantage of the investment opportunity,” he stressed, calling for a focus on start-ups and IT can be focus areas.
Indian and African business associations need to join hands with each other to leverage active trade relations, Thakur said.
India has the opportunity to amplify its foreign trade and be a centre for facilities, added FIEO President Sharad Kumar Saraf.
“India must take these opportunities with their innovative marketing strategies and provide sustainable business solutions.”
Saraf pointed out that India can offer a vast export basket consisting of mineral oils, vehicles, pharmaceutical products, machinery, equipment, organic chemicals, cotton and textiles, among others.
“We are making continuous efforts to strengthen ties between India and Africa and making diligent efforts to provide a platform to businesses of both countries to enhance economies and trade relations,” said Saraf.
Ashish Sinha, India’s Acting High Commissioner to Kenya noted that India is a major trade and investment part in Kenya with a constant rise in the trade relations between both countries creating jobs and business development.
Sectors are agriculture, food processing, healthcare, pharma, textile, packaging; IT, ICT, automobiles, chemicals and many more can be leverage in the bilateral relations.
He shared the projects undertaken by India and Kenya in different verticals that are creating jobs in both countries, adding that Indian companies can tap on the housing sector.
Sinha highlighted that diversification of trade is the need of the hour by looking for long term engagement leading to job creation in both countries in various sectors.
Africa has been a priority for India based on the dimension of investment, trade ties, personal ties and defense, and other securities, according to Vivek Agarwala, Chairman, International Affairs Committee for Africa, PHD Chamber of Commerce and Industry.
India’s economic partnership with African countries is vibrant that extend beyond trade investment, technology transfer, knowledge sharing, and skill development, Agarwala.
More than 80 companies from different sectors participated in the expo. #banks #invest #trade #training #development #projects #industries #maufacturing /fiinews.com
