India and Africa rekindle trade ties

India is reported to be Africa’s 3rd largest trading partner which accounts for 6.4% of the continent’s total trade at a value of US$62.6 billion in 2017-18.

India’s exports to Africa are varied, extending from mineral fuels to automobiles, pharmaceutical products, machinery, building materials and cereals. Indian imports from Africa, conversely, is ruled by mineral fuels.

The main export destinations for India in Africa comprises of Kenya, South Africa, Egypt, Nigeria, Tanzania, Mozambique, Algeria, Mauritius, Ghana, and Ethiopia.

It is freshly reported that engineering goods exports zoomed up to 234.63% in April 2021 representing that recovery in outbound trade is well on track and outlook remains constructive. While severe jump in shipments is chiefly because of low-base effect, it has also been reinforced by robust demand, said EEPC India chairman Mr Mahesh Desai.

He further highlighted that extraordinary performance of the engineering goods sector in the last few months is quite encouraging for exporters who were hit gravely by the spread of coronavirus.

As per the preliminary government data, India’s commodities exports in April 2021 was US$ 30.21 billion, up 197.03% over US$ 10.17 billion in April 2020 and an upsurge of 16.03% over US$ 26.04 billion in April 2019.

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