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India-Cote d'lvoire

 

 

Embassy of India

Abidjan

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India – Cote d’Ivoire Economic Relations

 

Bilateral Trade

 

          Total bilateral trade data during the last five years are as follows:

(in million US$)

Year

Exports

Imports

Total

%age Growth

2010-11

94.15

250.84

344.99

 

2011-12

282.53

466.33

748.86

117.07

2012-13

395.97

384.23

780.20

4.19

2013-14

298.95

298.40

597.35

-23.44

2014-15

309.75

532.10

841.85

40.93

 

2.       The bilateral trade, having witnessed a substantial increase post internal disturbance period marking return of peace and political stability since mid 2011, remained steady in the following year and slowed down in the year 2013-14. It has picked up substantially in the last one year.

 

3.       India imports cashew, manganese ore, cotton, wood, scrap metals, rubber, etc. CI is the second largest exporter of cashew in the world and India imports around 80 percent of Ivorian exports of cashew. The main items of India's export are cereals (rice), pharmaceutical products, machinery, articles of iron, chemicals, plastics, rubber products, vehicles, etc.

 

Indian Investment in Cote d’Ivoire

 

4.       A number of Indian enterprises have acquired presence in CI in recent years making India one of the largest Foreign Director Investor country in CI. Besides an Indian company mining and exporting manganese, there are other 4-5 large companies from India are currently engaged in the exploration activities in iron, manganese and gold mining. A mid-size steel plant King Ivoire is owned and run by Indian business group.

 

5.       There are a large number of Indian companies – small and medium size – involved in trading of cashew, timber and commodities; manufacturing; ICT; agro-processing, etc. However, many of these enterprises, controlled by NRIs / PIOs, are now based out of Dubai, Singapore, etc.

 

6.       ONGC Videsh Ltd. (OVL) had entered into a joint venture with VANCO, a US energy company, for offshore hydrocarbon exploration in CI in 2005, but the consortium pulled out a year later due to lack of encouraging technical data.  OVL once again examined the technical data in 2015 of various oil and gas blocks on offer in CI but did not find it appealing enough.

 

7.       Many large Indian pharmaceutical companies, including Ranbaxy, Cadila, Ajanta, Stride, Bharat Serum, Micro Labs, IPCA, etc., have intensified their operations in CI. Several of these companies have opened / expanded their offices in Abidjan in 2013 and 2014 with the objective of covering the entire West African, particularly Francophone countries, from Abidjan.

 

Economic and Commercial Exchanges

 

8.       A business delegation coordinated by FICCI and Embassy of India, Abidjan visited from 26-29 May 2015. The delegation had separate meetings several Ministers of CI and also called on PM Duncan.

 

9.       At the invitation of PM Duncan, an Indian business and investment delegation comprising 13 Indian companies visited Abidjan from 7-9 December 2014 and had interaction with several Ivorian Ministries as well as personal interaction with the Prime Minister. Another Indian business delegation had visited from 6-9 April 2013 and had B2B meetings.

 

10.      A 9-member ICT delegation from Electronics and Computer Software Export Promotion Council (ESC) visited CI from 29 Nov – 1 Dec 2012. A 20-member delegation of the Engineering Export Promotion Council (EEPC), during its visit in 2010, held a successful Buyer-Seller Meet. In addition, IT business delegations from CI have been visiting India for participation in the annual INDIASOFT event, organized by the Electronic and Computer Software Export Promotion Council of India.

 

11.      The Confederation of Indian Industry (CII) and Centre for Promotion of Trade & Investment in Cote d’Ivoire (CEPICI) organized a regional conclave “India-Africa Project Partnership” in 2007 in Abidjan.

 

Indian Economic Assistance  

 

12.      Bilateral ties have been strengthened by the expanding South-South Cooperation between the two countries. CI has received soft credit for development projects in the areas of agro-processing, transport, electricity transmission, fisheries, etc. Following Lines of Credit (LOC) have been extended to CI through Exim Bank of India:

 

S.No.

LOC Projects

Year and Status

1.

US$ 26.80 mn for (i) supply of 400 buses; (ii) cashew nut processing plant; (iii) vegetable oil processing plant; and (iv) chip-making, liquid sugar, cassava starch making plants.

2005; Completed

2.

US$ 25.50 mn to CI for (i) building the Mahatma Gandhi IT and Biotechnology Park (US$ 20 mn); (ii) Fisheries Processing Plant (US$ 4 mn); and (iii) Coconut Fibre Processing Plant (US$ 1.5 mn).

2008; Under implementation

3.

LOC of US$ 30 mn for Development of Rice production programme

2009; Under implementation

4.

US$ 54 mn (30 + 24) for supply, erection and commissioning of Laboa-Boundiali-Ferkessedougou 225 KV transmission line

2009; Under implementation

5.

US$ 102 million for development of lowland agriculture

Final agreement on operationalisation of LOC is yet to be signed

 

13.      India extended a total grant of US$ 790,000/- for establishment of the Centre for Demonstration and Promotion of Technologies (CDT) situated in Abidjan. CDT is an autonomous institution under Ministry of Industry of CI. The implementing agency on Indian side was National Research Development Corporation, a GOI enterprise, and LA Societe (I2T), Ivoirienne De Technologie Tropicale on the Ivorian side. The project was implemented for a period of three years during 2007-2010 under an MOU signed between two Governments in 2005.

 

14.      IAFS Process: Under the PAN African e-Network Project, over 100 Ivorian students have been pursuing higher studies through distant learning faculties at the University of Cocody. A tele-medical consultation facility with prominent hospitals in India has been established at Youpogong Hospital in Abidjan. Since the medium of instructions is not French (lingua franca in CI), there is a lack of enthusiasm among students who had registered for the courses. A 3-member team from Ministry of Rural Development and NIRD visited from 18-23 May 2015 to examine establishment of Rural Technology Park in CI as per decision of IAFS –II.

 

 

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