Union Minister for Commerce and Industry, Piyush Goyal, today emphasized working on India and Africa relationship to double the bilateral trade by 2030. Addressing the valedictory session of the 20th Edition of CII India Africa Business Conclave in New Delhi, Mr Goyal pointed out that the trade between India and Africa is fairly balanced, with India’s exports and imports at 42.7 billion dollars and 40 billion dollars, respectively.
The Minister also highlighted that the two nations share complementarities in agriculture, food security, healthcare, critical minerals, renewable energy and services. He asserted that Indian manufacturers can play a vital role in meeting Africa’s growing demand for affordable mobility solutions. Mr. Goyal also recalled India’s support to Africa during the COVID-19 pandemic.
The Minister also mentioned that India’s Unified Payments Interface (UPI) could help bring down transaction costs and strengthen Africa’s financial systems.
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