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India Negotiating with African Nations for Importing Pulses: Minister

15 Sep 2021 1:47 pm
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NEW DELHI, Sept 15 (Commoditiescontrol) - India has entered into agreements with Malawi and Mozambique for the import of pulses and is negotiating with some other African nations to source pulses for meeting the domestic requirement, Minister of State for External Affairs V Muraleedharan said on Tuesday.

Addressing the inaugural session of the India-Africa Agriculture and Food Processing Summit 2021, he highlighted that India is the fourth largest trading partner for Africa and has become the fifth largest investor in Africa with its cumulative investment at USD 70.7 billion.

"India has entered into agreements with Malawi and Mozambique for imports of pulses to meet growing domestic demands. Currently, we are negotiating MoUs with some other African countries for import of pulses," the minister said.

India is the largest producer and consumer of pulses. It imports pulses to meet domestic demand.

Muraleedharan mentioned that Africa has significant land to offer for production of various products.

"India would like to explore the opportunity to invest overseas and produce crops, while creating large scale employment, generating income, and even allow the economy to move up the value chain through creation of agro-processing facilities," he said.

Indian private sector has already started investing in this field in several African countries, the minister said.

"On the trade and economic front, India is the fourth largest trading partner for Africa registering USD 69.7 billion trade with Africa during 2018-19 and has become the fifth largest investor in Africa with its cumulative investment at USD 70.7 billion," he said.

The Duty-Free Tariff Preference (DFTP) scheme announced by India has benefited African nations by extending duty-free access to 98.2 per cent of India's total tariff lines, he added.

(By Commoditiescontrol Bureau)


       
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