Aligning Trade Standards: A New Era for India-Africa Cooperation
Commerce and Industry Minister Piyush Goyal advocates for aligning trade standards and customs between India and Africa to enhance bilateral trade. Highlighting key sectors like renewable energy and digitalisation, Goyal underscores the potential of AfCFTA and India's economy for creating high-value trade partnerships beyond raw materials.
In a significant move to strengthen trade ties, Commerce and Industry Minister Piyush Goyal emphasized the importance of aligning trade standards and customs procedures between India and Africa. This alignment is expected to boost bilateral trade and further facilitate business growth on both sides.
The minister highlighted the value of the African Continental Free Trade Area (AfCFTA), estimated at USD 3.4 trillion, in conjunction with India's expanding USD 4 trillion economy. He underscored the potential to form resilient partnerships, diversify supply chains, and transition from raw material trade to higher-value manufacturing and integrated value chains.
Renewable energy, electric mobility, and digitalisation were identified as key sectors for cooperation. As India and Africa prepare for the India-Africa Business Dialogue (IABD), the significance of businesses capitalizing on current trade frameworks was reiterated. Notably, bilateral trade reached USD 93.69 billion in 2025-26.
(With inputs from agencies.)
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