 "Piyush Goyal")
Commerce and Industry Minister Piyush Goyal on Thursday said India could look for negotiating a free trade agreement (FTA) with Africa to further strengthen economic ties.
He assured Africa of India’s non-expansionist attitude while emphasising on enhancing partnership in the areas of ports, railway lines, and highways.
“India is one country that doesn’t at any point of time come and take over your railway lines or ports or take over your electricity transmission systems. India has never in its history had an expansionist attitude,” he said at the CII-EXIM Bank Conclave on 'India-Africa Growth Partnership'.
Goyal said businesses of both regions should look at increasing bilateral trade beyond the target of $200 billion by 2030. The bilateral trade at present is about $100 billion.
India can also look for negotiating a free trade agreement with Africa to further strengthen economic ties, he said. Goyal said Indian companies were looking at business opportunities in Africa as the continent holds huge potential to boost trade and investments.
“India and Africa should work together to build more robust, diverse, and resilient supply chains and redefine the parameters of engagement and explore newer sectors for cooperation,” he said, adding that India was committed to deepening trade and investments with Africa and increasing knowledge and technology transfer.
The minister called for a deep study by multiple stakeholders on bilateral trade relations with countries in Africa that can identify further opportunities for growth.
