Trade: India-African ties grow stronger.

Position:BRIEFS - Brief article

India and South Africa have revised their bilateral trade target to $15bn from an original target of $10bn by end of 2011-12. This has been possible due to a surge in the trade of coal, gold, ICT, automotive items, pharmaceuticals, and oil and gas. Elizabeth Thabethe, the South African deputy minister of trade and industry, on a visit to the subcontinent reported: "South Africa is quite keen to increase trade and investments from India."

She noted that manufacturing, engineering, agro-processing, tourism and bio-technology, apart from mining, are the key sectors where there is further scope for both the countries to grow. The partnership between Indian and African companies continues to grow as the African Finance Corporation (AFC) announced it was teaming up with Infrastructure Development Finance Corporation to provide investment advice and financing to Indian companies looking to invest in Africa.

The AFC's president, Andrew Alli, says the new agreement...

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