India-Africa Trade Council Takes Off

Chennai – The India-Africa Trade Council was inaugurated in Chennai, India on January 22 to help build business relations between the two sides.

The India-Africa Trade Council was inaugurated by the Additional Secretary (Africa) Ambassador Nagma Mallick of India, and Ethiopia’s Ambassador to India, Dr Tizita Mulugeta Yimam.

There is growing interest in Africa amongst Indian businesspersons.

The India-Africa Trade Council will open 13 trade offices in major metro cities of India to facilitate engagement. The offices will work directly with embassies in Delhi and bring opportunities to places like Hyderabad, Chennai, Bangalore and Hyderabad.

“Africa will be at the top of our priorities as per the Prime Minister’s vision. Through the council we will continue to intensify and deepen our engagement with Africa which will be sustained and regular. Our development partnerships will be guided by Africa’s priorities and we will build as much local capacity and create as many local opportunities as possible.

“We will bring the South Indian market closer and make it easier and more attractive to trade with Africa. We will support our industries to collaborate with African companies,” said the President of the Indian Economic Trade Organization, Dr Asif Iqbal at the launch.

“My goal is to build stronger multilateral relations and reach new heights between Tamilnadu companies and the African region, which is a huge market, and I will be focussing on the COMESA region … and we will explore the opportunities in a structured manner (via) the Africa Free Trade Zone,” said B Ramakrishan, founder of Corporate Clinic in Chennai and Director of the India-Africa Trade Council.

A 30-member delegation from the India-Africa Trade Council will visit COMESA countries such as Botswana, Djibouti, Ethiopia, Namibia and Zimbabwe in April 2021, with a view to securing memoranda of understanding in the health, skills development and agriculture sectors, among others.

The India-Africa Trade Council will also seek to establish the India-Africa Film Commission to create synergies with Bollywood, with Mr Wali Kashvi spearheading that initiative.

There will be a monthly round table in Chennai, focusing on a different African country each time as a way of enhancing mutual understanding and exploring viable opportunities.

Further, the council will launch an Africa Special Economic Zone in Kolar on 100 acres land which will be occupied by various African companies.

“Ethiopia’s relations with India date back several centuries and its relationship with India is directed by the historicity of their interactions – the century-old trade partnerships and socio-cultural linkages.

“We want to elevate our ties to the next level. We want to elevate our bilateral partnership; we can come to an agreement that we can elevate it to the level of strategic partnership. We want to have a dynamic and fruitful dialogue on bilateral and regional levels,” said the Dr Yimam.

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Source: The Souther Times

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