Ambassador’s Remarks at the Trade Promotion Event
(Morondava, 13 June 2025)
Governor of Menabe Region H.E. Mr. Randriantsoa Mong Wai Tune Serge Lucky,
Prefect of Morondava Mr. Rafidison Fidele,
Mayor of Morondava Mr. Randrianantenaina Gilberto,
President of the Chamber of Commerce and Industry of Menabe Region Mr. Tsilenty Christian,
Excellencies, Ladies and Gentlemen,
Namaste, Salama, Good Afternoon. It is my pleasure to visit the beautiful city of Morondava, famous for its Baobab trees and its pristine beaches. I am glad to take part in today’s special event to promote trade-economic cooperation between India and Menabe Region. I would like to convey my special thanks to the Governor of Menabe Region for his support for today’s event.
2. At the outset, I would like to briefly speak about the ongoing economic transformation in India, under the leadership of Prime Minister H.E. Mr. Narendra Modi. With an annual GDP growth rate of more than 6.5%, India remains the world's fastest growing major economy and is poised to become the world’s 4th largest economy later this year. You might be aware of the achievements of India in the field of space, especially the soft landing of Indian spacecraft “Chandrayaan-3” near the Moon’s South Pole and the deployment of “Aditya- L1” spacecraft into a halo orbit to observe the Sun. India's first ever human spaceflight program “Gaganyaan” is expected to be launched in 2027. India has also become a global leader in the areas of healthcare, pharmaceuticals, startups, real-time digital payments etc.
3. It is heartening to note the steady growth in India-Madagascar trade in recent years, which amounted to US$ 455 mn in FY 2024-2025. India's major exports to Madagascar were rice, pharmaceuticals, textiles, sugar, machinery, vehicles etc while its top imports from Madagascar were cloves, cow-peas, graphite, nickel, essential oils etc. I would like to encourage the businesses from Menabe Region to take advantage of India’s Duty Free Tariff Preference Scheme for exports from Madagascar on 98.2% of the tariff lines.
4. I would also like to highlight a few sectors for stronger trade-economic cooperation between India and Menabe Region:
Agriculture: India is among the largest producers and exporters of agricultural and meat products in the world. India is also the largest producer of milk and the second largest producer of rice, fruits and vegetables. It is heartening to note that Madagascar has been exporting cloves worth more than US$ 100 mn every year to India. India stands ready to share its experience in the Agricultural sector for ensuring the food security of our two countries.
Fisheries: Fisheries and Acquaculture are important for the livelihood of 28 mn people in India. With a coastline of more than 11000 km and an Exclusive Economic Zone of about 2.3 mn sq km, India is the world's second largest fish producing country and a major exporter of marine products. Given the importance of seafood for nutrition and food security, our two countries could enhance cooperation on best practices in sustainable fishing.
Mining: India is among the largest producers of steel and iron ore and it is also a major importer of uranium, gold, diamonds, precious stones etc. India stands ready to share its experience and expertise in the exploration, extraction and processing of mineral resources in a sustainable manner for the benefit of the local population in Madagascar.
Tourism: As one of the largest tourist destinations in the world, India had welcomed about 10 million international tourists last year. I am glad to note the growing popularity of India as a preferred destination for Malagasy nationals for high quality and affordable medical care. As the incomes of its large middle-class population continue to grow, India is increasingly becoming a source for out-bound tourism. This morning, with the help of the Governor and other dignitaries of Menabe Region, Embassy had organized a special Yoga session at the famous Baobab Alley in Morondova. I hope this event will go a long way in promoting greater tourism flows between our two countries.
5. In conclusion, I would like to reaffirm that as a close neighbour and a fellow developing country in the Indian Ocean region, India stands ready to share its experience and expertise as per the needs and priorities of Madagascar. Embassy will work closely with Government of Madagascar, the Chambers of Commerce and other agencies in Madagascar to further strengthen India-Madagascar trade-economic and investment cooperation in the coming days. Once again, thank you all for joining in today’s event.
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