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Hopeful that Indo-African bilateral trade will cross $100 bn in next 2 yrs.: Union Minister


Monday, December 04, 2017

Govt. has replaced atmosphere of corruption & policy paralysis by conducive biz environment
New Delhi, December 4, 2017: The bilateral trade between India and Africa which reached about $60 billion in 2015-16 will cross $100 billion mark in next two years owing to improvement in business environment in the country together with better infrastructure and connectivity across African continent, Union Minister Mukhtar Abbas Naqvi said at an ASSOCHAM event held in New Delhi today.
“Africa offers lucrative business opportunities for Indian micro, small and medium enterprises (MSMEs) across diverse sectors such as FMCG (fast moving consumer goods), mining and minerals, telecommunications, construction and others,” said Mr Naqvi while inaugurating an ASSOCHAM Indian-Africa Trade & Investment Forum.
“India is attracting business leaders and investors from across the globe as our Government has been able to build a conducive business environment aimed at inclusive growth,” he added.
The Union Minister further said that India is focussed on ‘development with dignity,’ whereby the Government of India is committed to connect and uplift people from all sections of the society and bring them into mainstream.
“I feel very much satisfied in saying that today every section of our society in every part of the country is participating in the country’s progress and rapidly joining the mainstream,” he said.
He also said that it is due to the various reforms ushered in by the Centre that even global rating agencies and noted economists have impressed upon India as a very ‘safe and strong’ investment destination.
Talking about the previous regime, the Minority Affairs Minister said, “When we had come to power there was an atmosphere of policy paralysis and corrupt practices were prevalent but we have succeeded in reversing that through various reforms.”
He also said that Government is not claiming to have changed everything as these problems and challenges have sustained for decades together but there has indeed been significant positive development in India which is not a mean feat.
“Our government is focussed on the agenda of reform, perform and transform which is very much evident in the significant improvement made by India in terms of ease of doing business rankings,” added Mr Naqvi.

ASSOCHAM initiated its endeavour of value creation for Indian industry in 1920. It was established by promoter Chambers, representing all regions of India. Having in its fold over 400 Chambers and Trade Associations, and serving over 4.5 lakh members across India. ASSOCHAM has emerged as the fountainhead of Knowledge for Indian industry, which is all set to redefine the dynamics of growth and development in the Knowledge Based Economy. More information available on
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