Question:India has been actively promoting trade with Africa. A recent report reveals that India’s trade with African countries may touch USD 117 billion. By which of the following years this target is likely to be achieved?
(a) 2018-2019
(b) 2020-2021
(c) 2021-2022
(d) 2022-2023
Answer (c)
Related facts:
- A report of PHD Chamber of Commerce and Industry dated July 23, 2017, India’s trade with African countries is likely to touch USD 117 billion by year 2020-2021.
- Indian exports to the African continent was USD 24 billion in 2015 -16 which is expected to grow to USD 70 billion by 2021-22.
- India has been able to intensify its presence in African countries through a significant line of credit worth USD 10 billion for development projects in Africa over a five-year period.
Reference:
http://www.ptinews.com/news/8913815_-India-Africa-trade-may-touch-USD-117-bn-by-2020-21-.html
http://indiatoday.intoday.in/story/india-africa-trade-may-touch-usd-117-bn-by-2020-21-report/1/1008848.html
http://www.phdcci.in/index.php?route=common/home