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India-Africa trade growth rate over 30 per cent since 2005
Dec '17
India-Africa trade growth rate over 30 per cent since 2005
The total trade between India and Africa has grown at a rate of over 30 per cent since 2005, ambassador of Eritrea to India Alem T Woldemariam, who is also the dean of African Head of Missions in India, told the 9th edition of the annual event ‘I for Afrika’ of the Indo-African Chamber of Commerce and Industry organised in Mumbai last month.

The three-day event was organised from 13 to 15 November with Zimbabwe as the partner country. The focus sectors this year were agriculture, education, information technology, pharmaceuticals and healthcare.

The ‘I for Afrika’ initiative is aimed at nurturing entrepreneurship in Africa and support growth of small and medium enterprises, chamber president KL Daga told the gathering.

Africa aspires to raise its agricultural output from $280 billion in 2010 to $880 billion by 2030 and its gross domestic product is projected to reach $2.6 trillion by 2020, Sunanda Rajendran, secretary general of the chamber said. (DS)

Fibre2Fashion News Desk – India

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