India is ramping up its efforts to reach a monumental USD 200 billion trade target with African nations by 2030. Key to this strategy are the upcoming Joint Trade Council (JTC) meetings with Kenya and Tanzania, set for September. These discussions will play a pivotal role in shaping the future of India-Africa trade relations.
What’s on the Agenda?
- Addressing Trade Barriers: Tackling both tariff and non-tariff barriers, including regulatory and sanitary measures.
- Sector-Specific Solutions: Identifying and resolving issues in specific sectors to enhance trade and investment.
- Expanding Opportunities: Consulting with industry councils to unlock new trade avenues and optimize existing ones.
Recent Trade Highlights:
- Tanzania: Bilateral trade surged to USD 7.9 billion in FY 2023-24, making it India’s second-largest African trade partner.
- Kenya: Notable trade activity with exports from India totaling USD 3.35 billion and imports at USD 176.34 million.
This strategic engagement underscores India’s commitment to deepening economic ties and fostering mutual growth with its African partners.
