India’s commerce department is in the process of finalising an Africa-focused export strategy that includes a US$10-billion credit line to Africa and an extension of benefits under the Merchandise Exports from India (MEIS) scheme.
According to daily newspaper, The Economic Times of India, senior government officials led by commerce minister Nirmala Sitharama plan to brief the Indian parliament’s consultative committee on its plans in Goa this Friday and Saturday.
The Directorate General of Foreign Trade (DGFT) has included exports of textiles and ready-made garments including cotton fabrics, both woven and knitted, and made-ups to the African countries under the MEIS.
Following the new strategy, exports of value-added and labour-intensive products to African countries – such as Mauritania, Mali, Niger, Benin, Benin, Angola, Senegal, Togo, Ghana, Kenya and Tanzania – are expected to receive a huge boost.
