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Annual Report 2009-10
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:: PRESS RELEASES |
Exim India's Study highlights India's trade and investment Potential in the SADC Region
Release of Exim Bank's publication on "SADC: A Study of India's Trade and Investment Potential" at the hands of His Excellency Karim Wade, Senior Minister, Ministry of International Cooperation, Land Planning, Air Transport and Infrastructure, Government of Senegal, at New Delhi on March 15, 2010, at the "6th CII-EXIM BANK Conclave on India Africa Project Partnership 2010". Standing to his left is Mrs. Ravneet Kaur, Chairperson and Managing Director, Exim Bank
Export-Import Bank of India (Exim India)'s study on 'SADC: A Study of India's Trade and Investment Potential" was released at the hands of His Excellency Karim Wade, Senior Minister, Ministry of International Cooperation, Land Planning, Air Transport and Infrastructure,, Government of Senegal, at New Delhi on March 15, 2010, at the "6th CII-EXIM BANK Conclave on India Africa Project Partnership 2010".
Exim India's latest study highlights that the Southern African Development Community (SADC) region recorded robust economic performances in the recent years in spite of the recent global financial crisis. As regards trade and investment, the total trade of SADC region doubled to US$ 310.3 billion in 2008 from US$ 151.1 billion in 2004, while the foreign direct investment (FDI) inflows into the SADC region increased by more than seven-fold to US$ 31.1 billion in 2008 from US$ 4.1 billion in 2004.
The study draws attention to the fact that India's trade and investment relations with the SADC region have strengthened in recent years, and presents opportunities to further enhance bilateral commercial relations. During 2008-09, the SADC region accounted for 39.3 percent of India's total exports to Africa, while the region's share in India's total imports from Africa stood at 32.5 percent. India's total trade with the SADC region has risen more than three-fold from US$ 4.4 billion in 2004-05 to US$ 13.6 billion in 2008-09.
Towards this end, the potential items for India's exports to the SADC region would include electrical and electronic goods, plastic & linoleum products, organic and inorganic chemicals, article of iron & steel, automotive components, petroleum products and pharmaceutical products, while items which hold potential for imports from SADC region would include gold, coal coke & briquettes, non-ferrous metals, metaliferrous ores and metal scrap, diamonds, pearls, precious & semi-precious stones and cashew nuts.
The Study has also delineated broad strategies and recommendations to enhance India's commercial relations with the SADC region, which include: cooperation in health sector; investment in agricultural sector in key stages of value chain and sharing of expertise; focus on multilateral funded projects in the region; closer cooperation with Investment Promotion Agencies (IPAs); establishing business hub in the region to gain access to regional markets, as also to the rest of the African and European markets; cooperation with Chambers of Commerce & Industry, and Industry Associations; and cooperation in areas such as tourism, ICT, financial services, natural resource development, and entrepreneurship & institution building (particularly SME clusters).
With a view to enhance and facilitate India's trade and investment relations with the SADC region, Exim India has in place a comprehensive range of financing and support programmes to facilitate and promote bilateral commercial relations. Besides 27 operative lines of credit (LOCs) in the SADC region, Exim India has also supported Indian companies to execute projects in the region in countries such as Mauritius, Mozambique and Zambia. Towards building institutional linkages in the SADC Region, Exim India has signed MOUs with Afreximbank, Industrial Development Corporation of South Africa Limited (IDC), PTA Bank (Eastern & Southern African Trade Development Bank) and Board of Investment of Mauritius.
For further information, please contact
Mr. David Sinate,
General Manager,
Research & Planning Group,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: (022) 22172829,
Fax:(022) 22182572.
E-mail:dsinate@eximbankindia.in
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