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Trade Between Africa and India More Than Tenfold Between 2001 and 2014, making India the fourth According to a new report jointly produced by the African Export-Import Bank (Afreximbank) and the Exim Bank of India (Exim India), the largest domestic trading partner [19659003] the report entitled Deepening South-South Trade: An Analysis of Indian Trade and Investment shows that bilateral trade between Africa and India increased from $ 7.2 billion in 2001 to about $ 78 billion in 2014, before to rise to about 55 billion dollars in 2017.
These exchanges accounted for more than 6.8% of total African trade in 2017, trade with Africa accounted for about 8 percent of total trade of India, compared to 2.7 percent in 2001. [19659003] According to the report, exports from Africa to India remain mostly concentrated in crude oil and primary products. India's exports to Africa are more diversified and include more manufactured and technology-based products.
Africa's continued efforts to diversify the sources of growth and structural transformation would allow the composition of trade to evolve towards a greater proportion of manufactured goods. Traditional and agro-industrial exports from Africa to India
The study also showed that the attraction of Africa and India in as investment destinations had risen in recent years, thanks to strong economic growth, regulations, high rates of return on investment and the rise of the consumer market, among others. The stock of foreign direct investment (FDI) of India in Africa rose from 11.9 billion dollars in 2010 to 15.2 billion dollars in 2014.
Over the same period, the FDI stock in India rose from $ 57 billion to $ 73.3 billion. At the same time, India's development co-operation with African countries has evolved to integrate various avenues such as trade and investment, capacity building, technology transfer, subsidies and trade-offs. concessional loans.
The report concludes that despite the progress made, the two partners were not yet fully functioning, attributing this to a number of constraints, including finance, infrastructure, capacity and access to the market, with access to finance being considered as a major inhibiting factor in trade.
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