NEW DELHI: Huge potential exists in India-Africa trade, which currently stood at USD 63 billion, in areas including mining and goods and services, a top government official said Wednesday. Commerce Secretary Anup Wadhawan said the combined gross domestic product of India and Africa is 5% of the global economy and 8%of the world trade. "We need to work together to achieve the full potential, which is enormous," he said here at the India-Africa Strategic Economic Cooperation meet. He also said all ingredients -- natural resources, skilled manpower, technology, financing and entrepreneurship -- are there to increase economic cooperation between the two regions. India mainly exports pharmaceuticals, engineering and electronic products to Africa and imports natural resources and diamonds.

Source: Mint February 06, 2019 15:33 UTC