Auto, agri, pharma, logistics key for India-Africa trade: Commerce Secretary

[ad_1] Commerce secretary Sunil Barthwal Thursday said that the bilateral trade between India and Africa was $100 billion in 2022 and there is a need to double this to $200 billion by 2030.At the CII India Africa Business Conclave, he said that the African Continental Free Trade Area (AfCFTA) has identified four potential sectors - automobiles, agriculture and agro-processing, pharmaceutical and transportation and logistics- where the two sides can collaborate.“We firmly believe that these sectors have huge potential for collaboration in terms of investment, trade, technology and capacity building between Africa and India,” he said.In agriculture, he said that both sides can increase trade and cooperation in areas like processed foods and seed technology whilethere are opportunities to increase pharmaceutical trade and provide affordable medicines and healthcare to African people.Pharmaceutical exports to Africa were $3.8 billion in 2023.Barthwal said that India can share its expertise and best practices in the logistics sector. He also said there is a huge scope to expand the import basket from Africa.India can implement tailor-made capacity-building programmes in Africa, Barthwal said, adding that both sides need to work together in the World Trade Organization also. [ad_2] Source link Follow Us: https://facebook.com/gagab2b https://youtube.com/gagab2b https://gagab2b.com https://gagab2b.com/import-export-news/import-export-india-news/auto-agri-pharma-logistics-key-for-india-africa-trade-commerce-secretary/?feed_id=718&_unique_id=66de603fd9f9a

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