India eyes $40b West Africa trade by 2015

India has set an ambitious trade target of $40 billion with West Africa by 2015, twice the current trade value existing between the country and the region.

Currently, trade between India and West Africa, stands at $20 billion, according to a top Indian government official.

“Currently the trade between India and West African region stood at $20 billion. I would ask chambers and industries to work towards taking this number to $40 billion by 2015,” Anand Sharma, India’s Commerce and Industry Minister, was quoted by the Economic Times as saying when he opened the ‘India Show’ in Accra, Ghana July 9, 2012.

Sharma believes that the $40 billion target is “doable” as he urged Indian businessmen to help achieve the feat.

“This is my considered view that it is doable,” he said, reports the Economic Times.

Main areas for cooperation to lead the trade target include oil and gas, education, health-care, life sciences, pharmaceuticals, small and medium enterprises and infrastructure.

By Ekow Quandzie