Diplomacyindia.com


India’s trade with Senegal rockets to over $700 mn

India’s trade with Senegal rockets to over $700 mn
February 04
19:50 2016

By Francis Kokutse (13:21) 

Accra, Feb 4 (IANS) As India seeks to intensify ties with Africa, trade between India and Senegal, described as one of the continent’s model democracies, totalled over $700 million in the 2014-15 financial year, an Indian diplomat posted in the Francophone west African nation said.

“Official figures on trade between the two countries have grown steadily from 2010-11, when the total volume stood at $425.48 million. Trade between the countries has been growing at over 25 percent annually. India’s exports to Senegal during the financial year 2014-15 were valued at $518.72 million and India’s imports during the period were $208.13 million (for a total of $726.85 million),” R Narayanan, second secretary of the Indian embassy in Dakar, told IANS in an email exchange from Senegal’s capital.

Major items of export from India to Senegal include rice, textiles, food items, automobiles and pharmaceuticals. Major items of import from Senegal are phosphoric acid, phosphate ore and raw cashew. Embassy sources said an important initiative was taken in 1988 for counter-trade arrangements with Senegal but the results were not very encouraging.
There are about 300 Indians in Senegal working with Indian companies, including those executing development projects under lines of credit extended by India under bilateral and multilateral schemes. The rest run their own businesses.

“Bilateral trade volume has the potential to grow in the near future given the convergence of interests in terms of Senegal’s growing economy, its need for investment in crucial infrastructure sectors and the Indian companies’ endeavour to explore new markets and share their expertise in various fields with new partners,” Narayanan said.

The mission is making consistent efforts to help Indian businesses increase their presence in Senegal and utilise it as a gateway to the rest of West Africa, he said.

Narayanan said that during the last three years, India has extended project assistance worth $300 million for rural electrification and fishery development projects, establishment of a slaughter house with modern facilities, a tannery and livestock market, a project for self-sufficiency in rice and the acquisition of buses.

India has also extended various scholarships to the Senegalese, with 35 slots allocated under the Indian Technical and Economic Cooperation programme (ITEC) three years ago.

Apart from this, two slots under the General Cultural Scholarship Scheme (GCSS) and nine slots under the Africa Scholarship Scheme are also made available annually for Senegal. For the current financial year, five slots for training in courses conducted by the Indian Navy and three in the courses conducted by the Indian Air Force have been allotted to Senegal.

(Francis Kokutse can be contacted at fkokutse@gmail.com)

Share

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

Your email address will not be published.
Required fields are marked *

Social Icons

Diplomacyindia.com Video Interview with Shri Dnyaneshwar M. Mulay Secretary (CPV & OIA), Ministry of External Affairs speaking on an eventful journey of Indian Passport through its serveral phases, fast expanding network of passport seva kendras, evergrowing numbers, citizen centric service & new Initiatives

Diplomacyindia.com Video Interview with Shri Dnyaneshwar M. Mulay Secretary (CPV & OIA), Ministry of External Affairs speaking on safety & security features of the passport documents in an era of digitalisation his cherished moments & milestones as “Passport Man” of India tranforming the entire passport landscape.

Diplomacyindia.com Video Interview : Mrs. Reva Ganguly Das (IFS) Director General, Indian Council of Cultural Relations Speaking on Yoga Day Celebrations

Exclusive Interview to Diplomacyindia.com with Shri Upendra Tripathi, IAS Interim DG, International Solar Alliance (ISA) speaking on the journey of ISA so far, guiding principles, vision & priority areas & programmes for ISA.

Exclusive Interview to Diplomacyindia.com with Shri Upendra Tripathi, IAS Interim DG, International Solar Alliance (ISA) speaking on expanding rank of international solar alliance & opening the membership to the countries beyond tropics.

Diplomacyindia.com Exclusive Interview with Ambassador of Slovenia to India, H.E. Mr. Jozef Drofenik speaking on Bilateral Relations and Trade between India and Slovenia

Diplomacyindia.com Exclusive Interview with Ambassador of Slovenia to India, H. E. Mr. Jozef Drofenik speaking on Tourism in Slovenia

Pictures of Formal Launch of Website Diplomacyindia.com

Knowledge Partner

Exclusive Interview with Prime Minister of Guyana, H.E. Mr. Moses Veerasammy Nagamootoo during his recent visit to India.Highlights of the interview were Indian Cultural Connect, Vibrant Bilateral Ties and Cultural Connect and India’s Economic Prowess.

Video Message from Shri Prakash Javadekar, MoS (IC) for Forest, Environment & Climate Change on eve of Formal Launch of Website Diplomacyindia.com

Message from Gen. V K Singh, (Retd.) Hon’ble MoS, External Affairs to Diplomacyindia.com

WP Facebook Auto Publish Powered By : XYZScripts.com