Source: The Hindu Business Line, May 20, 2017
Ahmedabad: Driven by infrastructure and manufacturing sectors, the bilateral trade between India and Africa is expected to touch US $ 100 billion (approx Rs. 6,50,000 crore) in the next two years, as the continent advances towards industrialization, informed a top official of the African Development Bank (AfDB) here on Saturday.
“In 2005-06 the total bilateral trade between India and Africa stood at US $ 11.7 billion, which has reached to US $ 56.9 billion by 2015-16. Now we expect the bilateral trade to exceed US $ 100 billion in the next two years, helped by the Prime Minister Narendra Modi’s push for India-Africa partnership,” said Dr Akinwumi A. Adesina, President, African Development Bank ahead of the 5-day annual meeting of the AfDB Group at Mahatma Mandir.