SME Times News Bureau | 26 May, 2010
Amid fragile global economic recovery and persistent financial woes in Europe, India is looking for taking a plunge into the relatively less-explored countries of Africa.

"We are preparing a strategy paper on Africa with an aim at increasing our exports to the continent," a Commerce Ministry official told a news agency on Tuesday.

The official revealed that the Department of Commerce will come out with a strategy paper to increase exports to Africa, which accounted for USD 8.36 billion, or less than six per cent of India's exports, in the first 11 months of the 2009-10 financial year.

He added that an analysis of the major commodities exported to the Africa region, including a strategy for exports over the coming years is required for this purpose.

According to the official, different export promotion councils have been asked to come out with policies to expand exports to Africa.

At present, India's trade with Africa stands at $39 billion, which is much lower than China's trade with the region exceeding $109 billion.