On the import side, the decrease is about 1.84% in 1997-98 as compared to 1996-97. In absolute terms, Indian imports from the sub-Saharan African region decreased from Rs 8,063.04 crores during 1996-97 to Rs 7,914.55 crores during 1997-98.
With a view to boost trade relations with the various countries in the sub-Saharan region India has already signed trade agreements with 17 sub- Saharan African countries, which includes Cameroon, Senegal, Zambia, Kenya, Zimbabwe, Ghana, Mozambique, Liberia, Uganda, Nigeria, Angola, Rwanda, Ivory Coast, South Africa, Bourkina Faso, Namibia and Ethiopia.
During 1998-99, a formal trade agreement between India and Seychelles was signed on 18th September, 1998. The draft trade agreements with Gambia and Swaziland have been approved by the Government of India and the Governments of Gambia and Swaziland.
A major industrial technology exhibition, “India Tech ’98” jointly organised by Engineering Export Promotion Council, Electronics and Software Export Promotion Council and Department of Telecommunications was held in Nairobi (Kenya) from September 1-4, -1998. It covered four sectors: engineering, electronics, telecommunications and computer software.
Fifty- seven Indian companies including HMT, TATA, ITI, Maruti, TCIL, Eicher, SIDBI, Exim Bank, MTNI, etc. took part from India. Inquiries worth US $10 million were generated. Exim Bank and the Industrial Development Bank of Kenya signed an agreement on a new line of credit worth US $4.5 million.