In a bid strengthen economic cooperation with Africa, Indian government will support setting up of Small and Medium enterprises in African countries to promote job creation of employment and income generation for mutual benefit.
During the India Africa Forum Summit from 26th-29th October 2015, the heads of government of 54 nations across Africa and the Indian government have recognized the businesses of both sides through growing trade, investment and technology linkages which would also boost India-Africa partnership, India’s trade and industry minister Nirmala Sitaraman informed Lok Sabha early this week.
Some of the key areas were figured out in the discussion such as to fast track the implementation of the Duty Free Tariff Preference Scheme offered by India and to work towards creating conducive environment for trade facilitation in accordance with the WTO Bali Trade Facilitation Agreement.
Another key point was to promote Public Private Partnership (PPP) by encouraging Indian businesses to set up skills development unit in Africa to train African workforce. India has trained around 11,000 professionals from 2008 to 2011 and 25,000 more since the second IAFS till now.
Trade between India and Africa currently stands at $ 70 billion with Indian investments in Africa at around $30 billion.
