Nigeria, India to collaborate in fintech, AI, scientific development, solar energy – Envoy – The Sun Nigeria
From Aidoghie Paulinus, Abuja
Newly appointed Indian High Commissioner to Nigeria Gangadharan Balasubramanian has said that India and Nigeria are moving from traditional areas of business cooperation to new areas.
Balasubramanian who noted that trade and economic relations between India and Nigeria are already strong with over 135 Indian companies in Nigeria, disclosed that both countries are moving into various new areas including fintech, artificial intelligence, scientific development and solar energy.
Speaking during India’s 76th Independence Day in Abuja, Balasubramanian also said that they were new areas that India and Nigeria will look at to improve bilateral ties between both countries.
Recalling the establishment of diplomatic ties between India and Nigeria in 1958 before Nigeria’s independence, he said India-Nigeria relations are one of the best.
“Since then, our relationship has evolved in many different ways, almost everywhere.
“Human capacity development is one of the most important areas of our concentration and we are very happy that with the help and cooperation of successive Nigerian governments we can now say that our relationship is very strong and very cordial,” Balasubramanian said.
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On the security challenges bedeviling Nigeria, the envoy further recalled the military and defense cooperation between India and Nigeria, where much of the defense training of Nigerian military officers took place in military installations and training institutes in India.
Balasubramanian added that India would like to continue with the partnership and in cooperation with the federal government, India is ready to help in that direction.
Talking about the trade volume between both the countries, the Indian High Commissioner said that the trade volume was $14.95 billion in 2021.
He said trade volume has increased significantly post-COVID-19 on both sides, noting that India is a major importer of oil from Nigeria.
“Almost $10 billion worth of oil is imported from Nigeria. India also exports various issues from agricultural products, to petroleum products, to pharmaceutical products, to textiles.
“So there is a great opportunity to increase this trade and economic cooperation between our two countries,” he concluded.
