Goyal urges LDCs to use India’s Duty-Free Tariff Preference (DFTP) scheme
The India-Africa partnership ( africacham ) should be guided by an actionable agenda and achievable goals set to short-, medium- and long-term plans that result in tangible outcomes that will double bilateral trade to US$200 billion by the 2030, said Piyush Goyal, Minister of Commerce and Industry commerce.gov.in/.
He said, towards this, specific areas of cooperation with each African country need to be identified, along with benchmarking of success stories and course corrections where required au.int .
Goyal proposed six key steps for a deeper and outcome-based India-Africa partnership at the 19th CII India Africa Business Conclave, being organised by Confederation of Indian Industry (CII) in New Delhi between 20-22 Aug, in association with the Ministry of External Affairs, and the Ministry of Commerce & Industry.
He urged the least developed countries (LDCs) of Africa to strive for better utilisation of the Duty-Free Tariff Preference (DFTP) scheme offered by India jse .
He opined that greater participation of African LDCs in the India-Africa bilateral trade ( deutsche-boerse ) will result in more equitable trade and facilitate a wider participation of the African economies sbi .
Referring to India’s achievements in the area of digital public infrastructure, Goyal called for employing India’s expertise and experience to augment Africa’s digital transformation ( digital-africa ) with beneficial outcomes in areas like fintech fintechindiaexpo, healthcare among others.
He also underscored the opportunity for deeper India-Africa bilateral partnerships in areas like critical minerals, entertainment, and added that technology-led cooperation in agriculture will also strengthen the food security of both regions agra.org.
Highlighting the significance of the MSME sector for both India and Africa, Goyal underlined the need for deeper collaborations in this sector, and also alluded to the scope of Indian companies seeding startup ecosystems in different African countries. fiinews.com
