Indian Ministry of Commerce and Industry has announced that it is organising a trade exhibition tagged “Source India Nigeria” in Lagos from March 27 to 29, 2018.
The event, said to be the largest ever Indian trade exhibition, was to promote bilateral trade and investment and joint ventures between both countries, said a statement from the Indian High Commission in Abuja.
The statement said the trade exhibition will bring together about 100 reputed Indian entities representing various sectors with an objective to find right Nigerian partners for collaboration in trade, investment and joint ventures opportunities.
It added that the organisers would also welcome similar trade exhibition/delegation from Nigeria to India in the foreseeable future.
The main purpose of such exchange of business exhibitions/delegations is to tap the unrealized trade potential between India and Nigeria, the statement said.
“During 2016 India’s exports to Nigeria were US$ 1.74 billion as against India’s imports of US$7.41 billion from Nigeria leaving the trade balance of US$5.67 billion in Nigeria’s favour. The main item of import by India from Nigeria is crude oil amounting to US$7.22bn.