According to resources, the total export to Madagascar from India reached an estimated revenue of more than $191 Million by the year 2022.
Trade agreements have also been signed between both countries in order to support exports.
Pharmaceuticals, Cereals and Mineral Fuels are the major exported products from India to Madagascar at the present moment.
The E-commerce market in Madagascar reached $170 Million and expected to cross $290 Million by 2025 with a 18% growth rate.
The main reason behind this development is the Internet penetration rate in Madagascar which has reached more than 19% by 2022.
So, itβs a good scope for Indian exporters and sellers to grab the Madagascar market whether through offline channels or online selling platforms & marketplaces in Madagascar.
Useful resources