Great untapped potential for trade between India, Africa: IMC Chamber of Commerce

New Delhi: India and Africa have huge potential to explore trade and investment opportunities as both the regions together have a market of 2.5 billion people, according to IMC Chamber of Commerce and Industry. Chamber's President Rajiv Podar said the governments of India and the African nations could come together and help in the global revival of the economy.

The African Continental Free Trade Area (AfCFTA), which aims at establishing a free trade regime across the continent, also holds huge potential for domestic industry, he said.

"There is great untapped potential for trade and investment," Podar said in a statement.


"Our mission is to enhance ties to 100 x 100 matrix by 2025, that is, a target of USD 100 billion of bilateral trade and USD 100 billion of investment between India and Africa," he added.

The chamber recently organized a three-day Indo-Africa Virtual Summit 2020, where ways were discussed to boost economic ties between the two regions.