“India is open to FTA negotiations with African countries or with Africa as a whole, whether bilaterally or individually,” he said.
In order to increase trade, commerce, business, investment, and prospects with Africa, he said, India would operate as a dependable partner.
Such agreements allow for the significant reduction or elimination of customs charges on a maximum number of commodities exchanged between two or more trading partners. Additionally, they loosen regulations to encourage the trade of services and draw in investment.
Algeria, Botswana, Egypt, Ghana, Republic of Guinea, Kenya, Malawi, Mozambique, Morocco, Rwanda, South Africa, Tanzania, Togo, Uganda, and Zimbabwe are among the 15 nations represented by the ambassadors.With its quickly expanding population, newly developing middle class, and wealth of natural resources, the African continent offers enormous prospects for Indian firms.
Trade and investment have increased, and both the regions can benefit from each other’s strengths and expertise, fostering inclusive growth and job creation.The two-way trade between the regions stood at over USD 90 billion.
