The Acting High Commissioner of India to Nigeria, Vartika Rawat, advocates for streamlined regulatory processes to enhance trade relations between India and Nigeria at the India Trade Expo in Lagos. The event aims to foster collaboration between Indian businesses and Nigerian stakeholders, highlighting the need for a supportive environment for small enterprises. Key speakers emphasize the importance of increasing trade volume and exploring potential partnerships in various sectors.
The Acting High Commissioner of India to Nigeria, Vartika Rawat, recently emphasized the necessity for streamlined business regulatory processes in Nigeria at the inaugural India Trade Expo in Lagos. She highlighted Nigeria’s critical position in Africa and the potential for enhanced trade relations between India and Nigeria to benefit indigenous businesses and access new markets.
Rawat expressed her hopes for renewed collaboration between Indian companies and Nigerian government and private sectors, aiming for shared prosperity. During her address, she mentioned the significance of the 200 Indian-origin companies present in Nigeria and appreciated the hospitality extended to over 50,000 Indian expatriates residing in the country.
Rawat advocated for a more supportive regulatory environment to foster growth among small businesses and startups, given Nigeria’s energetic and entrepreneurial youth. She suggested implementing a single-window system and digital solutions to simplify the registration process for new companies.
Mr. Pradeep Pahalwani, President of the Indian Professionals Forum, remarked that the expo serves as a platform for both governments to adopt a broader perspective on bilateral trade opportunities. Furthermore, Lagos State Governor, Mr. Babajide Sanwo-Olu, expressed his administration’s commitment to enhancing the partnership between Nigeria and India, urging Indian businesses to explore Lagos’s vast potential.
Mr. Segun Ajayi-Kadir, Director General of the Manufacturers Association of Nigeria, underscored the critical need to boost trade volume between both nations, which has notably decreased from $14.95 billion in 2022 to $7.89 billion in 2024. He asserted that a stronger synergy between the countries’ industries could lead to job creation and economic growth.
In summary, the India Trade Expo has highlighted essential steps towards improving trade relations between India and Nigeria. Key figures, including Vartika Rawat and Mr. Segun Ajayi-Kadir, have stressed the importance of streamlined regulatory processes, collaboration, and increased engagement to unlock the potential for mutual economic growth. The emphasis on digital solutions and stronger partnerships showcases a forward-looking approach to bilateral trade, aiming to reverse recent declines in trade volume and capitalize on existing opportunities.
Original Source: www.thisdaylive.com
