The volume of trade between Nigeria and India in 2022 was $14.95 billion, the Indian High Commissioner to Nigeria, Mr. Shri Balasubramanian has said.
Speaking in Abuja on Thursday during the celebration of 74th Republic Day of India, the envoy disclosed that the volume of trade was in favour of Nigeria.
He noted that the business and diplomatic ties with Nigeria were still very strong as there were so many Indian businesses operating in the country and there were patronages for Nigerian goods in India.
The envoy said “there has been improvement in importation of India pharmaceutical product into Nigeria. And there are efforts to improve trading and other ties between the two nations.’
He however said that improving the volume of trade depended on demand and supply on both sides, noting that it was a commercial thing and left for businessmen from both sides to handle.
He said bottlenecks in businesses between the counties were being addressed especially taxation. This, he said, was being looked into.
Balasubramanian said direct flight between Nigeria and India was on course and would commence in a matter of weeks.
He said this would be actualized any moment from now.
He said: “Any moment from now, there would be direct flight from Nigeria to Bombay,” noting that “Air Peace has already got in touch with the Indian High Commission to inaugurate the flight.”
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