The Commerce Ministry and Indian High Commissions and Embassies of eleven African countries arranged an interaction over Digital Video Conference (DVC) on 3^rd and 6^th May 2019, with the Indian business community in Africa. 

The interactions with Indian Diaspora were held in Tanzania, Uganda, Kenya, Zambia, and Mauritius, Nigeria, Mozambique, Ghana, South Africa, Botswana, and Madagascar in order to further deepen and strengthen India-Africa trade ties.

400 members of Indian business community in 11 African countries attended the interaction over video conference. 

Today, African countries present immense opportunities for India with the world’s largest land mass, 54 countries, a population growing to be almost equivalent to that of India, huge mineral resources, oil wealth, a youthful population, falling poverty levels and increasing consumption patterns.

Thus, Africa has a huge demand for new business models for market entry, stable market access, entrepreneurship and investments in transport, telecom, tourism, financial services, real estate and construction. 

This initiative of the Commerce Ministry emphasizes the need for a multi pronged strategy for further enhancing trade and investment ties between the two regions. 

The Indian community in Africa is playing a vital role in all fields like politics, business and education. As per the latest available estimates the current strength of the Indian Diaspora in the African countries is 2.8 million out of those 2.5 million are PIOs        (Person of Indian Origin) and rest 220967 are NRIs.

The major issues highlighted by the Indian Business Community in these 11 countries are:

• Improving the Line of Credit system and developing a facility for an affordable and competitive funding.
• Setting up of Indian Banks/financial institutions in Africa
• Enhanced Buyers’ Credit facility for promotion of trade between the two regions
• Reviewing and liberalizing visa policies from both sides 
• Need for direct flights between the India and African countries
• Exploring the possibility of rupee trade to address the issue of shortage of dollars in region.
• Creation of common database of buyer-suppliers in the two regions for facilitating matchmaking for enhancement of bilateral trade.
• Development of a robust trade dispute settlement mechanism 
• More frequent and structured country/sector specific trade exhibitions in Africa
• Establishment of country chapters of FICCI or CII in Africa
• Frequent visits of policy makers, chamber of commerce and investors for familiarization with local business and investment regime for informed decisions.

Department of Commerce welcomed the suggestions of the Indian business community and assured them that these suggestions will be shared with relevant stakeholders /Departments in order to incorporate the suggestions in the India-Africa strategy for trade promotion.