Trade & Commerce
India-Libya Bilateral Economic & Commercial Relations
India-Libya Bilateral Economic & Commercial Relations
Libya is a member of TEAM-9 Initiative (Techno-Economic Approach for African Movement) comprising eight West and Central African countries seeking to benefit in technical and economic spheres through cooperation with India.
There is considerable untapped potential for mutually beneficial co-operation in hydrocarbons, energy, mining, agriculture, healthcare, pharmaceuticals, IT, and infrastructure sectors, to name a few.
India’s direct bilateral trade with Chad has surged from small base during past few years, but remains much below the potentials. During 2018-19, our bilateral trade with Chad was USD 513.59 million. The increase in the import of crude oil was the main reason for the significant increase in bilateral trade. After a sharp decline during Corona pandemic, the bilateral trade has started growing gradually since 2022-23. The bilateral trade figures for the past 7 years are given below:
| Year | India’s Import | India’s Exports | Total Trade | Balance Trade |
| 2018-19 | 476.13 | 37.46 | 513.59 | -438.67 |
| 2019-20 | 270.75 | 58.69 | 329.44 | -212.06 |
| 2020-21 | 50.00 | 59.23 | 109.23 | -9.23 |
| 2021-22 | 3.00 | 52.94 | 55.94 | -49.94 |
| 2022-23 | 6.01 | 52.21 | 58.22 | -46.20 |
| 2023-24 | 3.64 | 79.84 | 83.48 | -76.20 |
| 2024-25 | 23.10 | 81.27 | 104.37 | -58.17 |
Indian economic presence in Chad received a boost through Airtel’s US$ 1 billion acquisition of Zain Telecom, Chad’s biggest network, in June 2010. Airtel has invested additional US$ 400 million to expand its network in the country and to improve its quality since 2014.
Some Indian private companies are in the process of starting ventures in the pharmaceutical, foodstuffs, restaurants, and edible oil, etc. sectors in Chad. Several Indian companies based in Nigeria and Tanzania are also exploring opportunities for investment in Chad. Bharat Heavy Industries have supplied 331 Kilometres of pipes for the oil refinery project. A delegation from BHEL visited Chad in August 2018 to explore project exports.
A high-level Indian business delegation of 7 reputed companies representing Energy, Mines, Pharmaceutical products, and Telecommunications & IT, Tourism, Infrastructure and Defense sectors visited N'Djamena, Chad on 7-11 December 2015. During their visit, the business delegation had meetings with the Chadian Prime Minister, Ministers of Commerce, Telecommunications, Agriculture, Civil Aviation, Defence and Infrastructure, besides meeting Chamber of Commerce and Chadian businessmen.
A CII led 8-member business delegation to N’Djamena from 24-27 September 2024. The Mission organized a B2B meet on 25/9 which was attended by over 50 Chadian business leaders and industrialists. The inaugural session was addressed by Ambassador of India, the Minister of Commerce & Industry, the DG of National Agency for Investment & Export, and the leader of CII delegation. This was the first-ever visit by a CII delegation to Chad and the host country was quite excited to receive them. On September 26, the Mission arranged separate meetings for the delegation with Deputy Prime Minister, Ministers of Health, Commerce & Industry, Petroleum, Mines & Geology, Minister of State for Infrastructure Development, Deputy Ministers of Telecommunications, Higher Education, and Water & Energy.
- LoC of US$ 50 million:EXIM Bank has extended a GoI-LoC of US$ 50 million to Govt. of Chad for financing a Cotton Yarn Plant, a Bicycle Pant, an Industrial transport equipment and rolling plant, Agro-processing plants for Tomato and Mango, and Irrigation equipment in Chad. The LoC agreement was signed on August 29, 2005 and made effective on September 27, 2005. The LoC has since been fully disbursed and projects completed.
- LoC of US$ 15.9 million: EXIM Bank has extended a GoI-LoC of US$ 15.9 million to Govt. of Chad for financing the ‘Extension of Spinning Mill’ [addition of weaving and processing capacities]. Contract for this LoC was awarded in May 2014. The LoC has been disbursed and the project has been inaugurated in November 2020.
- Loc of US$ 6.12 million: Capitalisation of all interest, penal interest and commitment fee overdues under the LOC of US$ 50 million and LOC of US$ 15.90 million and future interest and other dues falling due under the LOC of US$ 50 million till June 2020 and LOC of US$ 15.90 million till December 23, 2023, into new LOC of US$ 6.12 million.