World News – AU – Ahead of 12th BRICS meeting, first India-Africa virtual summit casts eyes on mutual cooperation

New Delhi [India], November 6 (ANI / NewsView): Just before the 12th BRICS summit, the IMC Chamber of Commerce and Industry hosted a three-day 2020 Indo-Africa virtual summit which started yesterday The inaugural day of the very first Indo-African virtual summit was honored by the presence of the Minister of the Union of Trade and Industry, Consumption, Food and Public Distribution, Roads of iron, Piyush Goyal and Cabinet Secretary (Minister) of Sports, Heritage and Culture, Former Minister of Foreign Affairs, Kenya, Dr Amina Mohamed with some other important dignitaries « Our mission is to strengthen the links to the 100 * matrix 100 by 2025, jee, A target of 100 billion USD of bilateral trade and 100 billion USD of investment between India and Africa ”, said Rajiv Podar, president of the Chamber of Commerce and Industry of BMI at the Virtual Indo-Africa Summit Summit makes progress reinforce the vision set by Prime Minister Narendra Modi during his visit to one of the African countries, Uganda in 2018, to empower Africa and strengthen bilateral relations The combined markets of India and Africa encompass 25 billion people and a GDP of 5 USD5 trillion Since 2001, there has been a significant expansion of trade The volume of trade between India and African countries has increased from 5 USD 3 billion in 2001 to 70 billion in 2013 At the World Economic Forum in Delhi in 2014, the two sides reaffirmed their intention to reach a trade volume of 500 billion USD by 2020 In addition to expanding trade, Indian government supports private investors and aims to diversify trade With this and the well-established historic strategic partnership and cultural ties between India and African countries, there is great untapped potential for trade and investment Numerous roundtables are underway at the summit to assess opportunities for mutual interdependence << Governments of India and African nations could unite and contribute to the global revival of the economy African continental free trade is entered into force in 2019 Indian companies can benefit from the creation of an industry in Africa By June 2020, India had granted 121 lines of credit to 41 African countries to set up businesses there With an emphasis on infrastructure, finance, technology and to achieve bilateral trade of USD 100 billion, ”said Rajiv Poddar, chairman of the IMC Chamber of Commerce and Industry at the Indo-Africa Virtual Summit, during his summit speech of today will discuss the mutual cooperation between two countries in the field of banking finance – Digital and financial inclusion Likewise, Africa has a booming population with large Opportunities in Lower End and Expanding Middle Class Banking Today's Esteem Panel will discuss current and future collaborations in the banking and finance space between India and Africa This story is provided by NewsView ANI will in no way be responsible for the content of this article (ANI / NewsView)

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Africa, India, BRICS, Narendra Modi, cooperation, Piyush Goyal