Special Ministerial Session: "Defragmenting & broad basing India-Africa bilateral trade"
India-Africa bilateral trade has grown from US$5.3 billion in 2001 to US$76.9 billion in 2018, accounting for about 6.4% of Africa total trade. India is now Africa’s third largest trading partner. Yet, the bilateral trade data & patterns suggest the true potentials have not been realised. India’s exports to Africa are relatively diverse, comprising mineral fuels, automobiles, pharmaceutical products, machinery, and cereals. However, Africa’s exports to India are predominantly crude oil, gold, coal and other minerals. Today, as African countries aim to reduce their economic dependence on resource trade, India could play a catalytic role in Africa’s collective efforts to boost the region’s manufacturing and service exports. The ensuing diversification of India-Africa bilateral trade basket will also help geographically diversify India’s trade exchanges with African countries. In what ways can the AfCFTA help India and Africa to deepen and expand the bilateral trade flows? Is there scope for stepping up India’s trade and economic partnerships with COMESA, ECOWAS, The Sahel Alliance, WAEMU, SACU? Are LoCs still serving as instruments for growing project exports from India? What further steps are needed to increase LDCs’ exports to India? How transport connectivity & transit infrastructure can help expand India-Africa trade?