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India-Africa trade may touch $117 bn by 2020-21: Report

Indian exports to the African continent are expected to grow to $70 billion by 2021-22

Press Trust of India  |  New Delhi 

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India's with African countries is likely to touch $117 billion by 2020-21 on account of improved economic ties and strong business opportunities, according to a report.

Indian to the African continent are expected to grow to $70 billion by 2021-22 from $24 billion in 2015 -16 due to rising complementaries, the PHD Chamber of Commerce and Industry said in the report.

from too are likely to increase to $47 billion by 2021-22 from $27 billion in 2015-16.

"has been able to intensify its presence in African countries through a significant line a credit worth $10 billion for development projects in over a five-year period," PHD Chamber President Gopal Jiwarajka said.

"With consistent expansion in trade, diversification and widening of products should also be focused on while trading with African nations in the coming years," he added.

He observed that efforts should be made to streamline procedures, enhance maritime connectivity and develop robust logistics infrastructure to reduce costs and to strengthen ties between and

First Published: Sun, July 23 2017. 16:21 IST
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