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Vol 2 (AAC) No 3

Published 1st January 2009


Delhi defies the downturn

India's ministers predict that trade with Africa will hit US$100 billion, but it will take many more deals and deeper import and export diversification

Over the next five years, New Delhi expects India's trade with Africa to reach US$100 billion - despite the global economic slowdown. In an upbeat analysis of relations with Africa, Indian Foreign Minister Pranab Mukherjee identified agriculture, mining, chemicals, information technology and infrastructure components as the main areas for expansion. Mukherjee was speaking at the India-Africa Business Partnership Summit in New Delhi on 21 January; also at the Summit, External Affairs Minister Anand Sharma promised his government would ask its banks to improve payment and credit facilities for Indian and African businesses.

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