India’s exports to the African Continent are likely to touch to $ 6 billion by 2010 from the existing level of $2 billion, according to a paper published by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) on `India-Africa Partnership for Progress’.

In order to accomplish the projections for exports, ASSOCHAM has identified seven key areas in which joint venture should be encouraged to be established between India and African industries on priority basis. The suggested areas include leather processing plants, textile machinery, port development and mining.

On releasing the paper, ASSOCHAM president, Mr. Mahendra K. Sanghi said that concerted efforts need to be made so that the JVs are set up in these areas without any further delay. Establishment of joint ventures in such areas will also assist the government’s Focus Africa Programme for promoting trade and economic ties between India and the African continent,” said Mr. Sanghi.

The paper also suggests that until the proposed JVs are established, the Indian businesses should concentrate on accelerating exports of items such as textile and leather products, inorganic and organic
chemicals, and software packages.

According to the paper, India’s trade with the African region has been growing steadily with exports rising from $821 million in 1994-95 to $2 billion by the end of 2004-05.