Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

India, Nigeria Trade At $14.6b in FY11: India Envoy.


Date: 17-08-2011
Subject: India, Nigeria Trade At $14.6b in FY11: India Envoy
Bilateral trade between India and Nigeria touched a record $14.6 billion in the financial year ended March 31, 2011, a significant rise from $8.7 billion in the previous fiscal, Indian high commissioner to the oil-rich African nation Mahesh Sachdev has said.

Sachdev, who was a guest speaker at the second quarterly business luncheon of the Lagos Chamber of Commerce and Industry (LCCI) over the past weekend, said Nigeria's exports to India stood at $12.4 billion in FY'11, a 71 per cent increase year-on-year, while India's exports to the African country grew by 58 per cent to $22 billion.

Explaining the advantageous position of Nigeria in this regard, the envoy said the African country is the largest supplier of petroleum to India outside the Gulf countries.

"It is strategic commodity that we need and we are happy to come 7,000 kilometres across Cape of Good Hope to pick up oil in Nigeria, which we regard as a stable partner," he said, adding that total trade growth was 69 per cent in the last year.

He said other commodities that India imports from Nigeria include wood and cocoa, while the items Nigeria imports from India include petroleum products, vehicle equipment, electrical machinery, pharmaceuticals, electronics, steel, metals and chemicals.

The envoy harped on the need for Nigeria to revitalise its palm oil producing sector as Indians need more of the products on a daily basis.

He attributed the increase in trade to good people-to-people contacts on both sides, besides other factors, and disclosed that more than 12 Indian companies have shown interest in the country's power sector, which the presidency has promised to refurbish through privatisation.

The LCCI was established in 1888 and is the premier chamber of commerce in Nigeria, located in the country's commercial nerve centre of Lagos.

Relations between India and Nigeria have been cordial, with the former establishing its mission in 1958 before the African country got independence in 1960.

Source : mydigitalfc.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 06-06-2025
Notification No. 13/2025-Customs (ADD)
Seeks to impose Anti Dumping Duty on imports of ‘Insoluble Sulphur’ originating in or exported from China PR and Japan.

Date: 30-05-2025
Notification No. 31/2025-Customs
Seeks to i. extend the specified condition of exemption to imports of Yellow Peas (HS 0713 10 10) to bill of lading issued on or before 31.03.2026; ii. to reduce the basic custom duty on crude soya bean oil (HS Code 15071000), crude sunflower oil (HS Code 15121110), and crude palm oil (HS Code 15111000) from 20% to 10%

Date: 30-05-2025
Notification No. 38/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 26-05-2025
NOTIFICATION No. 37/2025-Customs (N.T.)
Notification of ICD Jalna, Maharashtra u/s. 7(1)(aa) of Customs Act, 1962" and it was issued under Section 7(1)(aa) of Customs Act, 1962

Date: 23-05-2025
Notification No. 30/2025-Customs
Seeks to amend notification No. 55/2022-Customs dated 31.10.2022 to remove the condition required for availing exemption on Bangalore Rose Onion.

Date: 23-05-2025
NOTIFICATION No. 36/2025 - Customs (N.T.)
Amendment in the Notification No. 63-1994-Customs (N.T) dated 21.11.1994 in respect of Land Customs Station, Raxaul

Date: 15-05-2025
Notification No. 34/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 09-05-2025
Notification No. 29/2025-Customs
Seeks to exempt works of art and antiques from Basic Customs Duty

Date: 30-04-2025
Notification No. 02/2025-Customs (CVD)
Seeks to amend Notification No. 05/2024-Customs (CVD) dated the 11th September, 2024 so as to align with changes made vide Finance Act, 2025

Date: 30-04-2025
Notification No. 26/2025-Customs
Seeks to rescind Notification No. 04/2025-Customs dated the 1st February, 2025



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001