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India, Africa urged to boost trade in key sectors: commerce secretary
The Business Guardian
|August 23, 2024
Sunil Barthwal, Commerce Secretary, identified four key sectors poised for substantial collaboration- automotive, agriculture and agroprocessing, pharmaceuticals, and transport and logistics, at the final day of 19th CII IndiaAfrica Business Conclave, organized by the Confederation of Indian Industry (CII) in partnership with the Ministry of External Affairs and the Ministry of Commerce & Industry.
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He said, "Identified four potential sectors, and this is very important for everybody to understand. And these four sectors are automotive, second one is agriculture and agroprocessing third one is pharmaceuticals and the fourth one is transport and logistics." He added, "And we firmly believe that these sectors have huge potential for collaboration in terms of investment, trade, technology empowerment and capacity building between Africa and India.
Agriculture remains a critical sector in India Africa, and trade. Currently, the majority of Africa's essential food imports originate from outside the continent." Barthwal emphasized the growth in trade between the two regions, noting that India's total trade with Africa reached nearly USD 100 billion in the fiscal year 2022-23.
This represents the highest trade level ever recorded between the two regions.
This story is from the August 23, 2024 edition of The Business Guardian.
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