#IndoAfrica2020: Expansion of Trade, an economic overview

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The combined markets of India and Africa encompass 2.5 billion people and GDP of $5.5 trillion. Since 2001 there has been significant expansion of trade. The volume of trade between India and African countries grew from US$5.3 billion in 2001 to 70 billion in 2013.

At the World Economic Forum in Delhi in 2014, the two sides reaffirmed their intention to reach a trade volume of US$500 billion by 2020. As part of the Indo Africa 2020 summit, high-level representatives from the two continents evaluate opportunities for mutual inter-dependence and stronger business ties.

Source : CNBC Africa

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