Vartika Rawat, the Acting High Commissioner of India to Nigeria, called for a streamlined regulatory process to improve trade relations at the India Trade Expo in Lagos. Emphasizing Nigeria’s strategic position, she noted the necessity for collaboration to unlock economic potential. Key figures reinforced these sentiments, advocating for increased bilateral trade and industry synergy to foster growth.
The Acting High Commissioner of India to Nigeria, Vartika Rawat, advocated for streamlined business regulations in Nigeria to enhance trade relations between India and Nigeria during the opening ceremony of the inaugural India Trade Expo in Lagos. She emphasized Nigeria’s strategic position in Africa and highlighted the potential for mutual growth and development of indigenous businesses within both nations.
In her remarks, Ms. Rawat acknowledged the presence of over 200 Indian-origin companies in Nigeria and expressed gratitude for the hospitality extended to over 50,000 Indian expatriates residing in the country. She noted, “The success stories of Indian entrepreneurs is the success of Nigeria,” underscoring the interconnectedness of the economies.
She stressed the importance of fostering collaboration and opening new avenues for trade and economic relationships, calling for a more conducive regulatory environment. Rawat stated, “It is important to have those small businesses and entrepreneurs, the startups, to be able to build… seamless regulatory processes so that companies can come, register and [a] single window system can be made.”
Digital solutions were suggested as a means to assist small and micro enterprises in capitalizing on market opportunities, enhancing their operational capabilities. Mr. Pradeep Pahalwani, President of the Indian Professionals Forum, remarked that the expo is a chance for both governments to adopt an open-minded approach toward bolstering bilateral trade.
Governor Babajide Sanwo-Olu of Lagos State, represented by Permanent Secretary Olugbemiga Aina, conveyed his administration’s commitment to strengthening ties with India, encouraging Indian businesses to tap into Lagos’s vast potential across various sectors. Additionally, Mr. Segun Ajayi-Kadir, Director General of the Manufacturers Association of Nigeria, urged for increased trade volume, noting a significant decline from $14.95 billion in 2022 to $7.89 billion in 2024. He remarked, “The potential for synergy between our industries is immense, and I am confident that together we can unlock new markets, create jobs, and drive economic development.”
The India Trade Expo highlighted critical discussions regarding the need for streamlined regulatory processes to bolster trade relations between India and Nigeria. Key stakeholders emphasized the importance of cooperation, the digitalization of business processes, and the need for both countries to unlock their economic potential. With over 200 Indian companies in Nigeria, mutual collaboration could pave the way for enhanced market opportunities and increased trade volumes.
Original Source: www.thisdaylive.com
