Engineering & Capital Goods News

Indian exporters: This time for Africa: For Indian exporters, a new continent of opportunities as demand wanes in Europe, US


Aerial view of Cape Town (South Africa) city centre, with Table Mountain, Cape Town Harbour, Lion’s Head and Devil’s Peak.

Synopsis

With many developed nations seeing some sort of economic crisis, Indian firms are making a beeline for Africa.

“We are getting 20-25% more export orders from Africa than Europe, a major market that now seems to be drying up,” says Ritesh Bhansali, Director at Mumbai-based exporting firm Picaso Trade Enterprises. “For India exporters, Africa holds a more promising future given the recent disruptions around the world.”

This sentiment is gaining ground among several traders. They say the business potential for Indian traders is bigger in African markets —

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