Zambia’s exports to India reach $475m of total $300b of the India’s global imports in the year 2016, according to the Indian Minister of State for Commerce and Industry, Nirmala Sitharaman, All Africa reported.
“India’s global exports in 2015-2016 stood at around $262m with petroleum products being the largest items in India’s export basket to Africa contributing 19.8%.” explained Ms Sitharaman during her speech in the 12th Confederation of Indian Industry Export-Import (EXIM) held on the 9th of March, adding that Zambia alone contributed in India’s imports by 1.5%.
India’s major imports from the African region included mineral fuels, mineral oils and its products, cultured pearls, semi-precious stones, edible fruit and nuts, inorganic chemicals and copper and its articles.
Meanwhile; India boosted its investments in Africa in recent years as African countries were receiving strong investment interest from India due to their high growth markets and mineral rich reserves, Sitharaman added.
The trade between India and Zambia have reached $200m in 2010 alone, and ever since that year, in a conference held in India that witnessed the presence of the PMs of both countries, that it’s their main aim is to increase those trades to $1b annually.