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1 ) EXIM Bank Report: India Could Fulfil Africa’s Maritime, Aerospace & Defence Requirements

he Export-Import Bank of India (India Exim Bank), also known as EXIM Bank, released a
research report titled “Reinvigorating India’s Economic Engagements with Southern Africa”
during the commencement of the CII-Exim Bank Regional
Conclave on India-Southern Africa Growth Partnership in
Johannesburg, South Africa.

Key points:

  • According to the report, India has emerged as a leading defence exporter in recent years and could be able to fulfil Africa’s maritime, aerospace, and defence needs, with Mauritius, Mozambique, and the Seychelles becoming major buyers of Indian armaments during 2017 – 2021.
  • i.A safe and secure maritime environment in the Indian Ocean Region (IOR) is vital to both India and African nations, particularly the nine Indian Ocean Littoral Countries (IOLC) in Africa.
  • The IOLC nations in Africa are Comoros, Kenya, Madagascar, Mauritius, Mozambique, Seychelles, Somalia, South Africa, and Tanzania.
  • The Export-Import Bank of India (India Exim Bank) and FirstRand Bank (FRB) Limited of South Africa have signed a “Master Risk Participation Agreement” to promote trade transactions.

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