2merkato

A virtual conference to attract Indian companies which provide information technology enabled services was organized by the Ethiopian Investment Commission (EIC), Ethiopian Embassy in India, and Indian Economic Trade Organization.

Various Indian companies that are engaged in the ICT sector attended the conference from the ICT Hubs of Bangalore, Hyderabad, Mumbai, and Kashmir.

The companies were provided with information on the existing reforms in Ethiopia, Government support and commitment for the ICT sector, and available infrastructure.

Source: EIC’s Facebook page

The rate of Indian investment in Ethiopia is increasing due to the ideal investment environment in the country. Successful Indian investors in Ethiopia are inviting others to join them said the Ethiopian Embassy in Ethiopia.

There are many Indian investors in Ethiopia engaged in investment projects such as agriculture, leather processing, agro-processing, mining and steel processing said Genet Zewede, Ethiopian Ambassdor to Ethiopia.

Four more Indian investors have been licensed to engage in sugar manufacturing, garment, cotton and denim production between the months of July and September she said.

Investment by Indian business people has also included investment in large scale commercial farms with more land given to investors from India than any other foreign investors.

Ethiopian Chamber of Commerce and Sectorial Association (ECCSA) along with Embassy of India and the Synthetic and Rayon Textiles Promotion Council organized a two days exhibition of Indian textiles. The event was organized at the Sheraton Addis Hotel and it was opened on Wednesday, August 13, 2014.

Welspun India, textile manufacturing company from India, is interested to invest and join Ethiopia’s textile industry. Such was disclosed by the company’s chairman, B. K. Goenka after he held discussions with Hailemariam Dessalegn, Prime Minister of Ethiopia, on the sidelines of Davos World Economic Forum.

Kanoria Africa Textiles, a sister company to Kanoria Chemicals & Industries Ltd, has set up an integrated Denim fabric manufacturing plant in Bishoftu, Ethiopia.