India Calls for Streamlined Business Processes to Enhance Nigeria…

The Acting High Commissioner of India to Nigeria, Vartika Rawat, advocates for streamlined regulatory processes to enhance trade relations during the India Trade Expo in Lagos. With over 200 Indian companies in Nigeria, she emphasizes collaboration and digital solutions to support small businesses. The event highlights the importance of a cohesive approach between both governments to foster bilateral trade and unlock market potential.

The Acting High Commissioner of India to Nigeria, Vartika Rawat, emphasized the necessity of a streamlined regulatory process in Nigeria to bolster trade relations between the two nations during the inaugural India Trade Expo in Lagos. She asserted that Nigeria’s strategic location and the current bilateral relations harbor significant potential for expanding trade and fostering local businesses on the African continent.

Rawat expressed her intentions for the expo to facilitate renewed engagement among Indian-origin businesses, the Nigerian government, local chambers of commerce, and private enterprises, fostering shared prosperity and growth. She highlighted the presence of over 200 Indian companies in Nigeria, underlining the opportunities available for enhancing business ties.

During her remarks, Rawat noted the importance of a harmonious regulatory environment, which would enable startups and small businesses to thrive in Nigeria’s youthful and entrepreneurial landscape. She advocated for streamlined regulatory frameworks and the implementation of a single-window system to simplify business registration processes.

Furthermore, she suggested that digital solutions should be employed to assist small and micro enterprises with limited capital in seizing available market opportunities. The President of the Indian Professionals Forum, Mr. Pradeep Pahalwani, echoed Rawat’s sentiments, suggesting that the expo provides a platform for the Indian government to adopt a more open-minded approach while encouraging Nigeria to consider the broader implications of bilateral trade.

Lagos State Governor, Mr. Babajide Sanwo-Olu, represented by Permanent Secretary Olugbemiga Aina, expressed a commitment to enhancing collaboration between Nigeria and India, inviting Indian businesses to leverage the potential across various sectors in Lagos. The Director General of the Manufacturers Association of Nigeria, Mr. Segun Ajayi-Kadir, stated the need for partnerships to improve trade volumes, highlighting a significant decline from $14.95 billion in 2022 to $7.89 billion in 2024, while emphasizing the immense potential for industry collaboration.

In conclusion, the call for streamlined regulatory processes by Indian officials emphasizes the vital role of collaboration in enhancing Nigeria-India trade relations. With over 200 Indian companies in Nigeria and extensive opportunities available, there is a collective focus on establishing a conducive business environment that supports startups and small enterprises. This expo serves as a pivotal moment to reinvigorate bilateral trade, aiming to reverse the declining trends and unlock new markets for both nations.

Original Source: www.thisdaylive.com