Indian traders are looking to foray into Afghanistan and bridge the trading gap between India and Afghanistan.
A large number of traders from India and Afghanistan participated in an interactive session on trade and investment opportunities in Afghanistan to bridge the trading gap between the two countries.
Organized by Federation of Indian Export Organisation (FIEO), the motto of the event was to create a platform for Indian and Afghan traders to interact.
"I think what I just want to leave as one message over here is that the government having done in terms of tariff policy what it could do is incumbent upon the business policies to work on the potential advantages that can happen by sourcing more from Afghanistan and working out collaborations, joint ventures and cross border investments in such a manner that they can value add to Afghanistan in many manufacturing process including the garments sector and the possible re export back not only in India but to other parts of the world by Afghanistan," said Arvind Mehta, Joint Secretary, Ministry Of Commerce.
The bilateral trade between India and Afghanistan varied between USD 580 and 650 million USD in last four years.
India's exports to Afghanistan amounted to USD 474 million in 2013-14, showing a growth of 0.5 percent, while imports touched USD 208 million, showing an increase of 30 percent.
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Exports were reduced due to the political instability in Afghanistan.
Imports from Afghanistan include dry fruits, fruits, lac and gum resin, which comprise 95 percent of total imports.
"We saw great interest from Indian companies and brief them on the opportunity we offer as a country in business. Afghanistan is in transition from critical area towards normalcy and sustainability. I was here to brief them about the current situation of Afghanistan especially in terms of opportunity in businesses," said Shaida Mohammad Abdali, Afghan ambassador to India.
Abdali said the political stability in Afghanistan would help revive trade and business.
"While obviously we want peace and stability we are very happy that we are through a critical phase of transition for the first time in the history of Afghanistan and now the new government in place would be focusing on realizing some important projects especially in terms of businesses and investments with our key allies and partners including India. So we are much more optimistic. We are also looking at India to focus more on economic and business ties with Afghanistan and through Afghanistan with other countries," added Abdali.
With the return of peace in Afghanistan, many Indian traders and companies would like to tap the potential.