India- West Africa can grow their Business & Trade Relations in a multi-facet way Post COVID-19

No. PR- 142 November 20, 2020 New Delhi

India- West Africa can grow their Business & Trade Relations in a multi-facet way Post COVID-19

Nigeria is looking for adding value in Nigeria for the future. We need to add to capacity supply in sectors like technology equipment and find solutions to the challenges for deepened long term relations, deliberated H.E. Mr. Abhay Thakur, High Commissioner, High Commission of India, Nigeria during the Virtual edition of India- West Africa Summit & BSM 2020’s panel session on Opportunities on Bilateral Economic and Business Cooperation with Nigeria, Mali and Niger organized by PHD Chamber of Commerce and Industry.

H.E. Mr. Abhay Thakur mentioned that the future focus sectors are agriculture, food processing, agriculture machinery, API suppliers, tele-medicines, tele-education, energy, solar grids, ICT, start-ups, media, entertainment, textiles, paper manufacturing and pharma. Nigeria is looking at doubling of economy in the future; meaning that here is growing opportunity in Nigeria for investment.

He emphasized that there has been an optimistic growth in the trade relation between India and Nigeria, our business linkages are robust and they need to further deepened and strengthened.

H.E. Mr. Anjani Kumar, Ambassador, Embassy of India, Mali while deliberating about the geo-economic condition of Mali, mentioned that there has been a rise in import-export relation of India-Mali in the past few years in the sectors like pharmaceuticals, cotton, vehicles, machinery, chemicals, rubber, iron and steel. India investments in Mali are in the areas of cement, assembling of vehicles, detergents, commercial vehicles, and many more. The government of Mali has identified some priority sectors for furthering of economy and special incentives will be offered to encourage the trade in these sectors that include agri-processing, fishery stock, mining, manufacturing, tourism, communications, housing development, transportation and many more.

On Mauritania, which is also accredited to the Indian Embassy in Mali, H.E. Mr. Anjani Kumar also mentioned about the potential sectors of cooperation especially in the fields of oil exploration, mining, agriculture, pharmaceuticals, machinery and power generation with H.E. Mr. Prem Kumar Nair, Ambassador, Embassy of India, Niger deliberated that Niger is a landlocked country and it has a high potential of imports from India. He explained about the industry scenario in Niger especially its dependency on agriculture and potential in areas of energy and gas.

Prince Kayode Adetokunbo, President, Abuja Chamber of Commerce and Industry, Nigeria mentioned that India and Nigeria have a deep rooted business and trade relations with each other. We need to change our philosophy of business relations with Nigeria for a win- win relationship. We need to import and export with each other in the sectors like technology, manufacturing and many more. We have the markets for trade in sectors like mining, machinery equipment and many more.

Mr. Pradeep Multani, Senior Vice President, PHD Chamber of Commerce and Industry deliberated about the vibrant partnership of India and West Africa in trade, technology, transfer, knowledge sharing and skill development. Africa possess a lot of trade potential and its export baskets has multiplied in the past few decades with the focus shifting from Europe to Asia. India has been one of the trading partners of the continent.

He also mentioned that West Africa has always remained at the heart of Africa’s transformation and domestic factors including consumption, natural resources and primary commodities remained as a growth driver of the region.

Mr. Saket Dalmia , Vice President, PHD Chamber of Commerce and Industry while delivering a formal vote of thanks to all the delegates and participants talked about the growing opportunities in trade and business relations between India and West Africa.

Mr. Vivek Aggarwla, Chair, International Affairs Committee for Africa, PHD Chamber of Commerce and Industry talked about the Bilateral relation via cross border investments and how it can be deepen and strengthen the bilateral trade.

The session was moderated by Mr. Niraj, Secretary, International Affair, PHD Chamber of Commerce and Industry. The session was attended by many industry stalwarts from the West African region.

Ends Media Division PHD Chamber of Commerce and Industry