A recent paper released by the Associated Barracks of Commerce and Industry of India ( ASSOCHAM ) susceptible that bilateral trade between India and Africa may grow by 22 % by 2012, avenue an estimated US$55 billion.
Growing trade volumes between India and Africa is expected to let have a leg - up to the business of the SME sector of both nations engaged in trading across diverse industry verticals.
Currently, the two - way trade figure between India and Africa is estimated to stand close to US$45 billion and further growth in the trade level between both countries is expected to prove largely beneficial for the agri - trade sector of both nations. Indian SMEs, involved in agriculture and agri - trade activities, can explore commercial opportunities in Africa since it provides suitable climatic conditions and in turn, help in resolving the food security challenge being faced by many African regions.
Indian SMEs can also cooperate in solving problems in several aspects of the African agri - business sector, including segments like irrigation, storage, transport infrastructure, raw materials and various other inputs and in return get a readymade market by tapping opportunities in these areas.
