Indian firms are looking at business opportunities in Africa, says Mr. Piyush Goyal
- IBEF
- June 16, 2023
According to Mr. Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs & Food, Public Distribution, and Textiles, Indian businesses are looking at business opportunities in Africa due to the continent's enormous potential to boost trade and investments.
Additionally, he suggested that businesses in both regions consider going beyond the target of US$ 200 billion in bilateral trade by 2030. Currently, the bilateral trade between the two countries is about US$ 100 billion.
To further strengthen economic connections, he suggested, India could look into signing a free trade agreement (FTA) with Africa. At the CII-EXIM Bank Conclave on "India-Africa Growth Partnership," Mr. Piyush Goyal stated that Indian companies are exploring many more opportunities and can help boost economic growth in Africa and create jobs.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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