Angola–India relations

Angola–India relations

Angola
India

Angola–India relations refers to the bilateral ties between the India and the Angola. Both nations are part of the Non-Aligned Movement. Being a member of the African Union, Angola supports India's candidature for a permanent seat in a reformed Security Council.[1][2] India has an embassy in Luanda, Angola. Angola has an embassy in New Delhi, India.[3]

Economic ties

The Ministry of External Affairs of the Government of India states that in the fiscal year ending March 2011, total trade between India and Angola was 6 billion dollars' worth.[4] According to the Indian embassy in Luanda, "[The]Government of India extended a line of credit of US$ 40 million to Government of Angola for a project for the rehabilitation of CFM (Railway Company of Mocamedes) Railway, the first major Government–to-Government initiative between the two countries. Rail India Technical and Economic Consultancy Services (RITES) Limited who started the implementation of the project in 2005 handed the completed over to Angolan Minister of Transport on 28.8.2007. EXIM Bank of India extended three credit lines of US$ 5, 10 and 13.8 million for agricultural equipment and Indian tractors. The State Bank of India which opened its Representative Office in Luanda in April 2005 has also extended commercial lines of credit of US$5 million for supply of tractors and import of capital equipment from India. Another term loan of 10.8 million has been approved by SBI. GOI has recently approved US$30 million for setting up an Industrial park and US$15 million for setting up a cotton ginning and spinning plant."[5]

References

  1. ↑ "Africa Union". Africa-union.org. Retrieved 2012-04-13.
  2. ↑ "African Union backs India's UNSC bid". Indian Express. 2007-07-07. Retrieved 2012-04-13.
  3. ↑ "Department of Commerce, Government of India". Commerce.nic.in. Retrieved 2012-04-13.
  4. ↑ https://web.archive.org/web/20111216113525/http://www.mea.gov.in/mystart.php?id=50049987. Archived from the original on December 16, 2011. Retrieved April 13, 2012. Missing or empty |title= (help)
  5. ↑ "Angola - India- Angola relations - Economic & Commercial - Embassy Of India, Luanda, Angola". Indembangola.org. Retrieved 2012-04-13.


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