Africa - India trade to cross US$100bn: Mukhtar Naqvi
New Delhi, Dec 5 (KNN) Africa provides numerous investment opportunities for Indian Micro, Small and Medium Enterprises (MSMEs) across various sectors like FMCG (fast moving consumer goods), mining and minerals, telecommunications, construction and others, Union Minister Mukhtar Abbas Naqvi said while inaugurating an ASSOCHAM Indian-Africa Trade & Investment Forum on Monday.
Due to infrastructure development and connectivity improvement in the African continent, the bilateral trade between two will exceed US$100 billion in next two years which was about US$60 billion in 2015-16, the minister said.
He added that the India has emerged as safe and strong investment only because of central government’s policies of inclusive growth.
On the latest revision of ratings by Moody’s and India’s giant leap on World Bank’s ease of doing business list, the minister said that it had become possible only due to Centre government’s development policies and reforms.
He further said that the government’s main goal is development with dignity, aiming to bring the poorest sections of the society into mainstream and uplift them. (KNN/AG)