DP World launches Bharat Africa Setu to double trade
Initiative is being developed under the guidance of the Ministry of Commerce and the Ministry of External Affairs.
DP World announced the launch of Bharat Africa Setu to provide Indian businesses access to warehousing, trade finance and distribution networks — fuelling south-south cooperation and inclusive growth.
The initiative is being developed under the guidance of the Government of India's Ministry of Commerce and Industry and Ministry of External Affairs, says an official release from DP World.
"It will connect India and Africa through sea and air connectivity between ports, economic zones and logistics parks operated by DP World in both geographies. The Bharat Africa Setu will provide Indian exporters with access to 53 African countries where DP World already has a strong logistics footprint, connecting to 260,000 points of sale."
Sultan Ahmed bin Sulayem, Group Chairman and Chief Executive Officer, DP World.
Sultan Ahmed bin Sulayem, Group Chairman and Chief Executive Officer, DP World unveiled the Bharat Africa Setu initiative in the presence of Piyush Goyal, Minister of Commerce and Industry, Government of India at the Dubai-India Business Forum in Mumbai.
"Africa imports approximately $430 billion worth of goods from various countries, presenting a significant market for global exporters. Currently, India exports $28 billion worth of goods to Africa, accounting for 6.5 percent of Africa's total imports. This offers a significant opportunity for India’s export economy to grow its share to 12 percent by 2030."
Goyal says: "Africa holds immense promise as a strategic trade partner for India. To fully unlock this potential, it is essential to strengthen connectivity, reduce trade bottlenecks and empower Indian businesses to access and thrive in Africa’s dynamic markets. The Bharat Africa Setu is a concrete step in this direction. By leveraging private sector innovation and investment, we are committed to developing an efficient, future-ready trade corridor that facilitates seamless export flows between India and Africa, fostering prosperity and growth on both sides of the Arabian Sea."
Ahmed bin Sulayem adds: "Africa has the potential to transform into a key player in the global economy, with trade and strategic partnerships serving as catalysts for the continent's growth and prosperity. Our partnership with the Government of India to establish the Bharat Africa Setu will open doors for Indian exporters to the vast opportunity in Africa by enhancing bilateral trade efficiency and improving market access."
DP World’s portfolio across Africa includes 10 ports and terminals, three economic zones and 203 warehouses spanning 1.5+ million sq.m., the release added.
