India,Africa trade to touch $ 100 bilion by 2015

[onionkiller]

India, Africa trade to touch $100
billion by 2015
PTI | Oct 1, 2013, 07.38PM IST
Commerce and industry minister
Anand Sharma said: "We will
hopefully be reaching the trade
target of $100 billion by 2015. It is a
modest target."
JOHANNESBURG: India on Tuesday
expressed the hope that its bilateral
trade with Africa will reach the
targeted level of $100 billion by
2015.
"We will hopefully be reaching the
trade target of $100 billion by 2015.
It is a modest target," commerce and
industry minister Anand Sharma said
here. India-Africa trade, which stood
at barely $5 billion a decade ago,
was over $70 billion in 2012.
Sharma is here to attend the third
India-Africa trade ministers meeting.
He said that huge opportunities are
there for businessmen of both the
sides to enhance trade and
investments.
Speaking at the occasion, African
Union Commission Chairperson
Nkosazana Dlamini Zuma too said
that trade between India and Africa
is growing exponentially during the
past decade. "I agree with Mr
Sharma that this is a modest trade
target. India has emerged as the
fourth largest trading partner," Zuma
said.
She also said that both the sides
can increase cooperation in areas
like infrastructure and human
resource development to enhance
economic ties.
She expressed happiness over
India's move to provide scholarships
to 22,000 African students over the
next three years.
South African trade minister Rob
Davies said that both India and
African should now focus on quality
of trade.
"Indian imports have risen. We
continue to supply raw material. We
need to supply more of value added
products," Davies said.
On investments, he said that huge
opportunities exists in both the
regions.
On the forthcoming WTO ministerial
meeting in Bali, Sharma expressed
the hope for a successful outcome.
Zuma said: "We hope that interest of
developing countries will be
safeguarded particularly in food
security and agriculture sector
during the Bali meet". Africa's share
in India's total trade has increased
steadily and Africa now accounts for
nearly 9 per cent of India's imports
as compared to 3.5 per cent in 2005.
India exports to Africa include
petroleum products, automobiles,
pharmaceuticals and telecom
equipment. Imports are crude oil,
gold, raw cotton, precious stones,
textile yarn.
India's largest trade partners in
Africa are Nigeria, Angola, South
Africa and Egypt.

source. timesofindia.com

 

[invincible]

and who have surplus in this trade..anyone?

 

[onionkiller]

and who have surplus in this trade..anyone?

friend India

 

[invincible]

friend India

Nice...thnks

 

[Bhai Zakir]

India and Africa shares a long and historic warm relationships.

India have played a major role in their freedom and still working for the betterment of Africa and its people.

While other nations are only after its resources and want to exploit them India work with African nations and transfer technologies and skills.

Diamond industry is an example where all over the world nations sources their diamonds from Africa nobody cares about African people. India despite being the global hub for Gem and Diamond polishing industry, India teaches the skills to the african people so that they can use their diomand and add the value to it and then export it for a better price.

By this not only the Africans will get a better prices but also huge jobs. Way to go India a true friend of Africa.

 

[walle]

friend India

source? Its actually the other way, you see since Africa export mainly raw materials and energy in which they exchange for real goods their citizens can consume, and infrastructural support. India produces nowhere near the amount of consumer goods to export nor does it have the technology to assist African to build infrastructure.

http://blogs.lse.ac.uk/indiaatlse/2013/07/02/time-to-scale-up-relations-between-india-and-africa/

"India’s trade exchanges with Africa are expected to touch US$90-100 billion by 2015, with the balance of trade in favour of Africa. New Delhi is also shifting its investments in procuring energy away from the increasingly unstable West Asia and into Africa."