May 7, 2019
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India-Africa trade strategy: diaspora-led proposals for finance, logistics, visa ease and rupee trade to deepen bilateral commerce.
The Commerce Ministry held a two-day Digital Video Conference with Indian business communities in eleven African countries to inform an India-Africa trade and investment strategy, noting Africa's market potential and India's existing trade share. Key operational proposals from the Diaspora include improving Line of Credit facilities, establishing Indian banking/financial institutions in Africa, enhancing Buyers' Credit, liberalising visa policies, instituting direct flights, exploring rupee trade, creating a buyer-supplier database, developing a trade dispute settlement mechanism, and increasing targeted trade exhibitions and institutional presence. The Department of Commerce pledged to share these suggestions with relevant stakeholders for incorporation into policy.