India - Madagascar Business and Cultural Council

Madagascar, an island nation off southeastern Africa, is renowned for its unique biodiversity, including lemurs and baobab trees. Its capital is Antananarivo. The country’s economy relies on agriculture, mining, and tourism.

Ambassador and Consul General

The Ambassador of The Republic of Madagascar, Ms. Tahmina Rasamoelina - Premier Conseiller, accepted the Honorary Membership of Global India Business Forum in presence of Global President of GIBF, Dr. Jitendra Joshi and Co-Founder & Director - Global Operations, Deepali Gadkari. Realizing the strengths of Global India Business Forum and the Consulate of the Republic of Madagascar and conscious of the benefits to be derived by both organizations and its members through this mutual understanding, both parties will be associated with each other in mutual cooperation to facilitate mutual investment, trade and economic cooperation complimented by knowledge sharing, training, certification and networking.

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Graphite, Chromite, Shrimp, Vanilla, Coffee

Fuel, Capital equipment, Foodstuffs, Palm oil, Refined petroleum

About Madagascar

ABOUT Madagascar

Madagascar, also officially known as the Republic of Madagascar, is an island country located in the Indian Ocean and has a land area of 592800 sq. km. The capital of Madagascar is Antananarivo and the official languages of the island country are Malagasy and French. Madagascar has unique and the most sought-after biodiversity with more than 90% of its wildlife being endemic, i.e. these wildlife creatures are not found anywhere else on earth. A major part of the population practices Christianity and traditional beliefs or the Malagasy mythology or a combination of both. Madagascar gained its independence from French rule on October 14, 1958 and the currency adopted by the country is Malagasy Ariary. The current population of Madagascar as of 2020 stands at 2,76,91,018.

Business Opportunities in Madagascar

BUSINESS OPPORTUNITIES IN Madagascar

Madagascar heavily relies on tourism, eco-tourism to be precise. This is because the island nation has one of the largest amounts of biodiversity which unique to the nation and cannot be found anywhere else on earth. This is a major attraction in itself for tourists who are wildlife enthusiasts. This can act as an attractive investment opportunity for countries that wish to preserve such rare and unique wildlife species.The country also exports agricultural products such as coffee, vanilla and sugar and also exports minerals such as graphite and chromite. These products can give ample business opportunities for different countries including Madagascar.

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Exports and Imports In Madagascar

Overview In 2022, Madagascar was the number 131 economy in the world in terms of GDP (current US$), the number 133 in total exports, the number 142 in total imports, the number 182 economy in terms of GDP per capita (current US$) and the number 115 most complex economy according to the Economic Complexity Index (ECI)

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Top Exports of Madagascar

The top exports of Madagascar are Raw Nickel ($929M), Vanilla ($583M), Cloves ($309M), Cobalt ($224M), and Non-Knit Men's Suits ($152M), exporting mostly to United States ($756M), France ($634M), China ($538M), Japan ($448M), and Germany ($162M).

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Top Imports of Madagascar

The top imports of Madagascar are Refined Petroleum ($625M), Rice ($299M), Palm Oil ($187M), Light Rubberized Knitted Fabric ($159M), and Sulphur ($133M), importing mostly from China ($1.33B), India ($533M), France ($472M), Oman ($337M), and South Africa ($315M).

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