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Volume 7 Issue 9
September-2020
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

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Published Paper ID:
JETIR2009193


Registration ID:
300980

Page Number

1436-1441

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Title

Trade relation between India and Africa - A study

Abstract

TRADE RELATIONS BETWEEN INDIA AND AFRICA: A STUDY Dr.C. Ramana Reddy Lecturer in political science, Government Degree College, NAGARI, Chittoor(Dist) . Andhra Pradesh(State). ABSTRACT Africa and India are separated by the Indian Ocean .The geographical proximity between the horn of Africa and the Indian sub – continent has played an important role in the development of the relationship since ancient times. India has emerged as Africa’s the largest trade partner behind China, EU & USA whilst Africa emerged as India’s sixth the largest trading partner behind EU, China, UAE, USA & ASEAN. There are three elements to India’s trade relations with Africa – increasing the volume of imports and exports between the two countries; Government support to the private sector, the diverse nature of India’s economic engagement both government and Private, with Africa. Bilateral trade jumped from $5.3 billion in 2001 and $90 billion by 2015 and it would increase $500 billion by 2020. This is almost five times more than that of 2015. Regarding the imports and exports, African exports to India are growing at a rate of 32 % annually, with Indian exports to Africa at a rate of 23%. The top six African exports to India are Nigeria, South Africa, Angola, Egypt, Algeria and Morocco and account for 89% of total African exports by value to India, mainly due to exports of oil, gas, ores and gold. Trade is significantly more diversified arouse African countries at the product level and all exports from India seem to have some degree of technological input. The major challenges faced by exporters and importers from India and Africa are primarily : transport and logistics costs: poor business environment (lack of ease of doing business); corrupt practices; and access to trade finance. The major threat to India’s trade relations with Africa is the pressure of China, USA and EU in Africa. Regarding trade strategy of USA is to reduce dependence of middle- east oil and hence they went for greater purchase of oil from Africa. China also has been offering soft loans which are being lapped up by capital starved African nations. The paper attempts the origin of India-Africa trade relations, its evolutionary growth, constraints in India-Africa trade and also what are the threats to it from the global competition especially from USA, China and EU.

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"Trade relation between India and Africa - A study", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.7, Issue 9, page no.1436-1441, September-2020, Available :http://www.jetir.org/papers/JETIR2009193.pdf

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2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"Trade relation between India and Africa - A study", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.7, Issue 9, page no. pp1436-1441, September-2020, Available at : http://www.jetir.org/papers/JETIR2009193.pdf

Publication Details

Published Paper ID: JETIR2009193
Registration ID: 300980
Published In: Volume 7 | Issue 9 | Year September-2020
DOI (Digital Object Identifier):
Page No: 1436-1441
Country: Chittoor, Andhra Pradesh, India .
Area: Arts
ISSN Number: 2349-5162
Publisher: IJ Publication


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