Libya
(Source : Embassy of India, Tripoli)
Exports by India to Libya during the period 2016-17 stood at US$ 120.46 million and India’s imports from Libya went down to US $ 7.45 million. Thus the trade decreased substantially mainly because of civil strife in Libya and decrease in oil production due to militia fighting and perennial strikes.
Values in US $ Millions in Libya
|
Sl. No
|
Year
|
2011-2012
|
2012-2013
|
2013-2014
|
2014-2015
|
2015-2016
|
2016-2017
|
|
1.
|
Export
|
60.98
|
215.30
|
287.20
|
163.74
|
122.58
|
120.46
|
|
2.
|
Import
|
38.33
|
1,834.80
|
451.54
|
70.14
|
8.86
|
7.45
|
| |
Total Trade
|
99.31
|
2,050.10
|
738.74
|
233.88
|
131.44
|
127.91
|
The main items of India’s exports to Libya are transport equipment, processed minerals, machinery & instruments, coffee, drugs & pharmaceuticals, natural silk yarn, fabrics and other commodities. The main item of India’s imports from Libya is petroleum (crude and products).
Mozambique
(Source : High Commission of India, Maputo)
India has been an important partner
The Mozambican Minister of Health, Nazira Abdula, on 15th August, in Maputo, during a ceremony to mark the 70th anniversary of India’s independence day highlighted the recent contacts between India and Mozambique which helped to deepen bilateral cooperation in sectors such as agriculture and food security, infrastructures, education, science and technology, and health. Furthermore, the High Commissioner of India Gaurav Shresth said that in recent years there has been a deepening of bilateral commitments, and currently Indian investments in Mozambique overtake all the others done in any African country. “I feel happy to inform that Mozambican legume exports increased almost 200 percent comparing to last year, and there is potential to expand much more this commerce”, said the diplomat. Later this year, added Shresth, India will offer to the Ministry of Agriculture and Food Security high-quality seeds, and, with better seeds and technology, Mozambican farmers will easily increase production, bringing a visible impact in poverty reduction and simultaneously assuring food security to the vast Indian population.
Indian restrictions may threaten Mozambican farmers
It has been widely reported by Mozambique media news that the livelihoods of many thousands of Mozambican farmers may be at risk, following the recent decision of Indian government to restrict the import of pigeon peas. According to the news, in July 2016, during a visit by Indian Prime Minister Narendra Modi to Maputo, India and Mozambique signed an agreement whereby India would import tonnes of pigeon peas from Mozambique between 2016-2019. But the India authorities have now imposed quotas on pigeon peas imports, 200,000 tonnes in one fiscal year, moving this crop from the “free” to the “restricted category” of imports.
Hansraj Singh Verma, First-Secretary of High Commission of India to Mozambique, speaking on the matter to a local media newspaper, explained that the restrictions of pigeon peas’ imports do not cover Mozambique, at this stage, and reminded that there is a Memorandum of Understanding (MoU) signed between the Governments of Mozambique and India, in 2016, for a five-year period, that shall be complied with in full. Verma referred that the decision is a result of good pigeon peas agricultural campaign in India, which ended into a devaluation of the product in local market.
Trade Data
The monthly and progressive bilateral trade between India and Mozambique for the fiscal year 2017-18 and its comparison vis-à-vis corresponding period last fiscal are as under:
Values: Million US$
|
|
June 2016
|
June 2017
|
Variation in %
|
|
Indian Exports
|
33.60
|
93.60
|
(+)178.57
|
|
Mozambican Exports
|
71.62
|
104.04
|
(-)45.27
|
|
Total trade
|
105.22
|
197.64
|
(+)87.84
|
Note: The figures in parenthesis represent the percentage change compared to the previous period.
Thailand
(Source : Embassy of India, Bangkok)
India to the world leader
ASTV Manager 360 | Sep 06, 2017
Siriporn Sinacharoen, Managing Director of Krungsri Asset Management Plc, talks about a bright future for the Stock Exchange of India. The economy in India is growing 7.5% annually and has become one of the fastest-growing economies in the group of G20 countries. Elements that are supporting India’s growth are such as easing monetary policy, continued recoveries in the trade and budget deficit, lower inflation rates, and the government’s increasing spending in infrastructure development. The previously weak Indian economy has become highly stable since Prime Minister Narendra Modi entered office. He issued various reform measures and policies that helped to flip the Indian economy and has massively increased its competitiveness. Examples of outstanding measures are such as improvements to the Goods and Services Tax (GST) and development of a population bio-database etc. It is predicted that India’s population will surpass China’s by 2025. The number of middle-class people in India is growing rapidly, which is helping to increase domestic consumption. It is likely that India may become one the largest economies in the world by 2050. Siriporn says that Krungsri will launch an India Equity Fund (KF-INDIA) for the first time from 14th-20th September 2017. KF-INDIA will invest mainly in the First State Indian Subcontinent Fund, which was given a Morningstar rating of five stars in July by India’s leading hedge funds.
Tunisia
(Source : Embassy of India, Tunis)
India Tunisia Joint Venture : US$450 million was launched in 2006 in Tunisia for manufacturing Phosphoric Acid. Its production started in 2013. Two Indian companies Coromandel Fertilizers Ltd and the Gujarat State Fertilizers Ltd have 30% shares in the project. In the TIFERT board meeting held in Tunis on 19 July, Indian representatives of Gujarat State Fertilizers and Chemicals and Coromandel International participated and discussed TIFERT’s indebtedness.
Other Projects : Indian companies M/s KEC International Ltd and Jyoti Structures Ltd have a presence in Tunisia for erection of electric transmission lines. An assembly plant of Mahindra pickup trucks is established in Tunisia with a target to produce up to 2500 trucks per year. Indian Auto Company, Mahindra and Mahindra, provides the vehicles as knocked-down kits, to be assembled by the Tunisian company, with full technical support from the Indian company. Mahindra has further diversified its product portfolio by introducing SUV class vehicles. M/s TATA Motors have commenced assembly of pick-up trucks with Tunisian companies ‘Le Moteur’ and ‘Icar’ in June 2015.
Analysis of Investment opportunities in Tunisia
Tunisian Government provides many incentives to promote foreign investment in Tunisia. About 3353 foreign companies operate in Tunisia in diverse sectors. The Government has primarily encouraged export-oriented FDI in key industrial sectors, such as call centers, electronics, aerospace and aeronautics, automotive parts, and textile/apparel manufacturing. Foreign participation is allowed in the privatization program of state-owned or state-controlled enterprises. This has attracted a significant share of Tunisia’s FDI in recent years. The privatization programme has taken place mainly in telecommunications, banking, insurance, manufacturing, and fuel distribution. The foreign investment in Tunisia during 2016 was worth US$ 0.901 billion.