The Acting High Commissioner of India to Nigeria, Vartika Rawat, advocates for streamlined regulatory processes to enhance trade relations between India and Nigeria during the India Trade Expo in Lagos. Key figures, including the Lagos Governor and the Manufacturers Association Director, stress the importance of strengthening partnerships and increasing trade volume, which has notably declined in recent years.
The Acting High Commissioner of India to Nigeria, Vartika Rawat, emphasized the importance of establishing streamlined business regulations in Nigeria to enhance trading relations between India and Nigeria during the India Trade Expo held in Lagos. She underscored Nigeria’s strategic position in Africa and the potential for mutual economic growth and development through improved trade relations.
Rawat expressed the desire for enhanced engagement between Indian-origin companies and Nigerian authorities, aiming for a partnership that fosters prosperity. She noted the presence of over 200 Indian companies in Nigeria, highlighting the welcoming environment for over 50,000 Indian expatriates contributing to Nigeria’s economy.
She called for a harmonious regulatory landscape that would support small businesses and entrepreneurs, particularly startups, facilitating their entry into the market through streamlined processes. Rawat suggested implementing digital solutions to empower micro-enterprises with limited capital, allowing them to capitalize on market opportunities.
Mr. Pradeep Pahalwani, President of the Indian Professionals Forum, remarked on the significance of the expo as a pivotal moment for enhancing bilateral trade. He urged both the Indian and Nigerian governments to adopt a broader perspective in fostering stronger trade relations.
Lagos State Governor, Mr. Babajide Sanwo-Olu, represented by Olugbemiga Aina, emphasized the state’s commitment to nurturing its partnership with India. He encouraged Indian businesses to explore the myriad of opportunities available in Lagos across different sectors.
The Director General of the Manufacturers Association of Nigeria, Mr. Segun Ajayi-Kadir, identified an urgent need to enhance trade volume between India and Nigeria, which has seen a decline from $14.95 billion in 2022 to $7.89 billion in 2024. He expressed optimism regarding potential synergies and the opportunity to revitalize and expand the volume of trade between the two nations.
In conclusion, the dialogue at the India Trade Expo highlighted essential steps towards fostering enhanced trade relations between India and Nigeria. By advocating for streamlined regulatory processes and improved collaborations, stakeholders aim to create a supportive environment for businesses. The call for digital solutions and strategic partnerships underscores the mutual benefits that can be achieved through revitalized efforts in trade, ultimately leading to economic growth for both nations.
Original Source: www.thisdaylive.com
