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India to expand Africa trade [Copy link] 中文

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Post time 2011-5-24 13:30:43 |Display all floors
Indian Prime Minister Manmohan Singh is visiting Africa in a bid to expand India's trade with the continent.

Mr Singh is in the Ethiopian capital, Addis Ababa, for the second India-Africa summit, which begins shortly.

India's commerce with Africa is worth $40bn (£25bn) a year, but it is dwarfed by China, which does roughly three times as much business with Africa.

Discussion at the summit is also likely to focus on piracy off the coast of Somalia, which is hindering trade.

In Africa there are plenty of Indian products on offer - from relatively cheap cars and motorbikes to life-saving drugs.

As African heads of state meet Mr Singh, the talk is expected to be about how to boost the trade between two parts of the world that have shown a fair bit of resistance in the face of the global downturn.

The graphs show that the economy in Africa is growing at more than 5% a year - although most people will say they are not feeling it.

Whilst India's economy expanded by more than 8%, India's business links in Africa are also growing - one example being Bharti Airtel spending $10bn (£6.2bn) last year to take over the mobile phone operations across Africa from the Kuwaiti firm, Zain.

The challenge for African leaders is how to boost the trade and move away from an over-reliance on single commodities - the continent's raw materials.

The issue of piracy is also likely to come up during the discussion.

It is estimated that more than 10% of all the sailors kidnapped by the Somali pirates are Indian.

In what sounded like a "you help us and we'll help you" scenario, the Indian prime minister recently said Africa should have a permanent seat on the UN Security Council.

India itself has for some years been pushing for its own seat.

So everyone will be keen to keep diplomatic ties strong.

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Post time 2011-5-24 14:06:03 |Display all floors
I'm waiting for someone to accuse India of neo-colonialism. Where's Seneca?

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Post time 2011-5-24 15:24:18 |Display all floors
Originally posted by Kbay at 2011-5-24 12:23 PM
What will India export to Africa?

Jaguars and Range Rovers?

Or curry powder and cow dung?

Shanzhai knockouts and massage girls

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