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 cooperation in terms of business to new areas.
Balasubramanian who noted that the trade and economic relations between India and Nigeria are already strong with over 135 Indian companies in Nigeria, disclosed that both countries are moving to various new areas, including fintech, artificial intelligence, scientific development and solar energy.
Speaking during the 76th independence day of India in Abuja, Balasubramanian also said that they were new areas that India and Nigeria will be looking at in improving the bilateral ties between both countries.
He recalled the establishment of diplomatic ties between India and Nigeria in 1958 prior to Nigeria’s independence, saying that India-Nigeria relations are one of the best.
“Since then, our relationship has developed in multi various ways, almost in all places.
“Human capacity development is one of the most important areas on which we are concentrating and we are very happy that with the assistance 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 bedevilling Nigeria, the envoy further recalled the military and defence cooperation between India and Nigeria whereby many of the defence training of Nigerian military officers took place in military installations and training institutes in India.
Balasubramanian added that India will be happy to continue with the partnership and in cooperation with the Federal Government, India is ready to assist in that direction.
Speaking on the volume of trade between both countries, the Indian High Commissioner said the trade volume was $14.95 billion in 2021.
He said the trade volume has increased substantially after COVID-19 on both ways, noting that India is a major importer of oil from Nigeria.
“Nearly about $10 billion worth of oil is being imported from Nigeria. India also exports various issues from agricultural products, to petroleum products, to pharmaceuticals, to textiles.
“So, there is a large possibility of increasing this trade and economic cooperation between our two countries,” he concluded.