Goyal calls for deepening trade ties with Africa; exploring solar energy, startup ecosystem

| | New Delhi
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Goyal calls for deepening trade ties with Africa; exploring solar energy, startup ecosystem

Wednesday, 20 July 2022 | PTI | New Delhi

Solar energy, infrastructure, military cooperation and startup ecosystem are four critical areas where India can be a valuable partner to African nations, Commerce and Industry Piyush Goyal said on Tuesday.

  The trade between India and African countries has been pretty balanced with exports of trade and services of about USD 40 billion and imports of USD 49 billion, Goyal said while speaking at the inauguration of 17th CII-Exim Bank conclave here.

 “And we would like to continue this engagement and partnership where both African nations and India support each other in an endeavour to support each other’s economic growth.

 “India gives 27 Less Developed Countries from Africa the benefit of duty free tariff preference..It’s time we also look at further deepening and strengthening the trade partnership and possibly look at giving greater trading access to both African continent and to India so that we can expand this trade in a much faster and greater way,” the minister said.

 Speaking at the conclave on ‘India-Africa Growth Partnership - Creating Shared Futures’, he said India and South African countries can work in several areas to bring cost effective, affordable and truly designed for local population solutions in several areas.

 “And India would like to strengthen our offer of friendship, our offer of relationship based business so that we can meet the dream of 1.4 billion African people. There are four areas of partnerships that I believe can fulfil the aspirations of the people of Africa and India going forward,” Goyal said.

 He said both the countries are blessed with significant amount of sunlight and solar power can be one area of engagement between Africa and India.            

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