The Hindu : Business : Survey calls for incentivising project exports

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Tuesday, Apr 08, 2008
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Survey calls for incentivising project exports

Special Correspondent

NEW DELHI: The buoyant trade between India and Africa, reckoned at $25 billion in 2006-07, can be doubled to $50 billion in five years if the Government zeros in on a nine-point package of measures, including setting up of an Africa Promotion Council, entering into preferential trade agreements, strengthening trade promotion cells in Indian missions and incentivising exports, particularly project exports, says a FICCI industry survey on ‘Strengthening economic engagement between India and Africa’.

Measures

While the respondents felt that the Government should unveil a package of measures to position exports to Africa on a high growth trajectory, the survey has, among others, suggested measures to strengthen the trade promotion cell and economic sections in the High Commissions in different African countries and provide more, better and updated commercial intelligence.

It has also been suggested that an ‘Africa Promotion Council’ should be set in a PPP framework. Such a council should further have sub-councils focussing on each of the five regions in the African continent and be the focal point for facilitating industry forays and exports into that region.

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