India is preparing for joint trade council meetings with its top trading partners in Africa \u2014 Kenya and Tanzania \u2014 scheduled in September this year as the country eyes doubling trade with African nations to $200 billion by 2030.<\/p>\n
\u201cThe Commerce and Industry Ministry is consulting with industry councils and other ministries and departments for the JTC meetings with Kenya and Tanzania next month with a focus on existing barriers and opportunities. An inter-ministerial consultation has been planned for the same. Africa is an important market as it holds a lot of potential and could help in its efforts to diversify,\u201d a person tracking the development told businessline<\/i>.<\/p>\n
In a note to the industry, the government sought information on tariffs barriers as well as non-tariff barriers such as regulatory issues and SPS measures. \u201cBoth Tanzania and Kenya are promising markets and with some focussed attention there is a possibility for trade and investment to grow manifold,\u201d the source said.<\/p>\n
\nProblems faced
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Some of the general problems faced by Indian exporters in the two African countries include procedural obstacles leading to administrative and bureaucratic delays as well as standards and measures imposed for various sectors impeding imports, the source added. \u201cThe government hopes to identify specific problems affecting different sectors so that solutions could be sought,\u201d the source said.<\/p>\n
India-Tanzania bilateral trade increased to $7.9 billion in 2023-24, posting a 22 per cent growth over the previous year, which elevated Tanzania to the position of India\u2019s second-largest trade partner in Africa, up from the third position last year, per a statement issued by the Indian High Commission in Dar es Salaam earlier this year. India\u2019s exports were valued at $4.6 billion during the fiscal, imports were at $3.3 billion.<\/p>\n
India exports essential commodities such as petroleum products, industrial machinery, and tractors, which facilitate industrialisation and economic growth, the statement added. It also supplies life-saving pharmaceutical products at competitive prices. \u201cIndian motorcycles and automobiles are quite popular among Tanzanians,\u201d the statement added.<\/p>\n
Tanzania exports a variety of agriculture products to India including cashew nuts, pigeon peas, soybeans and avocado and also gold and coal.<\/p>\n
India\u2019s exports to Kenya in 2023-24 were valued at $ 3.35 billion while imports were at $176.34 million. Exports from India to Kenya were are similar to Tanzania and include petroleum products, pharmaceuticals, machinery, cereals, sugars & confectionery, plastics & articles, vehicles, electrical machinery & equipment, organic chemicals and paper & paperboard.<\/p>\n
Kenya\u2019s exports to India comprise tea, coffee, soda ash, edible vegetables, copper and articles, fertilisers, metal scrap, miscellaneous chemical products, lead and articles and zinc and articles.<\/p>\n
Top officials from the Minstry of External Affairs led a delegation comprising officials from Ministry of Agriculture, business chambers and 25 Indian agricultural companies and institutions to Kenya in April this year to explore opportunities in the agriculture sector.\u00a0<\/p>\n