62nd Day Of Lockdown

Maharashtra50231146001635 Tamil Nadu162778324112 Gujarat140636412858 Delhi134186540261 Rajasthan70283848163 Madhya Pradesh66653408290 Uttar Pradesh62683538161 West Bengal36671339272 Andhra Pradesh2780184156 Bihar257470211 Karnataka208965442 Punjab2060189840 Telangana1854109253 Jammu and Kashmir162180921 Odisha13365507 Haryana118476516 Kerala8485206 Assam393584 Jharkhand3701484 Uttarakhand317583 Chandigarh2621794 Chhatisgarh252640 Himachal Pradesh203594 Tripura1941650 Goa66160 Puducherry41120 Manipur3220 Meghalaya14121 Arunachal Pradesh210 Mizoram110 Sikkim100
Business Other News 07 May 2018 Govt to prepare acti ...

Govt to prepare action plan to boost trade with Africa: Prabhu

PTI
Published May 7, 2018, 3:13 pm IST
Updated May 7, 2018, 3:13 pm IST
The commerce ministry has decided to formulate a comprehensive action plan to boost India's trade with Africa.
The commerce ministry has decided to formulate a comprehensive action plan to boost India's trade with Africa.
 The commerce ministry has decided to formulate a comprehensive action plan to boost India's trade with Africa.

New Delhi: The commerce ministry has decided to formulate a comprehensive action plan to boost India's trade with Africa which is "relatively" small at present, Union Minister Suresh Prabhu said.

A series of engagements have been lined up in different parts of Africa to discuss ways to promote trade and investments between the two regions, he said.

 

"As part of our strategy to explore new markets, we are constantly engaging with Africa where there is huge scope for exports...We have decided to prepare an action plan to boost exports and imports from Africa," the commerce and industry minister told PTI.

To strengthen the dialogue on trade and investments, "we have divided them in five parts - east, west, north, south and central", Prabhu said.

Deliberations have been completed in the eastern part and soon similar engagements would be organised in places including Algeria and Nigeria, he added.

"The idea is to discover new markets. We are meeting them regularly... Trade is relatively very small with Africa," Prabhu said.

With India's exports growing at a relatively slower rate, Africa holds huge potential to boost exports. According to experts, India needs to take more steps to increase cooperation with the continent in various areas including services.

"India has lot of prospects in Africa. We need to increase our engagement with the continent. We have not yet exploited that fully as compared to China, which has huge presence," said Biswajit Dhar, a professor of economics at Jawaharlal Nehru University.

Prabhu has earlier pitched for a free trade agreement with Africa to boost economic ties between the two regions. The commerce between India and the African countries is about USD 52 billion currently.

...
Location: India, Delhi, New Delhi




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT