International Trade Between India & Africa

Most of the research focus on international trade concerns trade involving the developed economies. Within this context, researchers analyze trade among developed economies and, to a lesser extent they analyze the so-called North-South trade between major developed economies and newly industrializing, less developed, developing economies. A major focus on international trade that frequently is overlooked by researchers, however, is South-South trade - trade among economies other than the major developed economies. South-South international trade offers great potential for the creation of economic growth among the newly industrializing, less developed, and developing economies (Raafat, 2005). Further, South-South trade provides opportunities to develop mutually beneficial international trade relationships where the terms of trade are less likely to be skewed in favor of more powerful economies that tend to take much more than they give in trade agreements with newly industrializing, less developed, and developing economies (Subramanian, 2003).

One newly industrializing country that is pursuing policies designed to increase and enhance South-South international trade is India. This report examines international trade between India and Africa. Data are presented on bilateral trade between India and specific African countries.

International Trade between India and Specific African Countries

India has developed policies designed to increase and enhance its

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004 trading activities. India's Export of Principal Commodities to South Africa RANK COMMODITY VALUE IN US$ MILLION APRIL - DEC., 2002 VALUE IN US$ MILLION APRIL - DEC., 2003 % SHARE IN APRIL - DEC., 2003 % AGE GROWTH / DECLINE APR - DEC 2003 / APR - DEC 2002 � Total 373.87 343.10 100.00 -8.23 1 Rice (Other than basmati) 125.70 43.00 12.53 -65.79 2 Readymade Garments of Cotton including accessories 24.71 34.84 10.16 41.00 3 Machinery & Instruments 15.88 23.16 6.75 45.83 4 Drugs, Pharmaceuticals & Fine Chemicals 18.53 21.82 6.36 17.73 5 Cotton Yarn, Fabrics, Madeups, etc. 20.12 17.98 5.24 -10.64 6 Transport Equipment 12.85 17.47 5.09 36.00 7 Primary & Semi Finished Iron & Steel 5.11 16.83 4.91 229.37 8 Manufactures of Metal 15.87 16.09 4.69 1.36 9 Manmade yarn, fabrics, made-up 7.94 11.31 3.30 42.48 10 Inorganic/Organic/Agro Chemicals 8.25 10.12 2.95 22.73 11 Plastic and Linoleum Products 5.92

Category: Foreign - I