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Key African state of Ethiopia pitches for wider Indian investments
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The meet organised in the honour of Demeke Mekonnen, Deputy Prime Minister (PM) and Minister of Foreign Affairs of Ethiopia. This was the first physical high-level interaction organised by ASSOCHAM after the outbreak of COVID-19 pandemic.
Currently there are over 607 Indian companies in Ethiopia with a licensed investment of over $5 billion (bn) employing about 75,000 Ethiopian nationals. About 61 per cent of Indian investments are in manufacturing sector followed by agriculture (14 per cent).
Even as trade and economic relations between India and Ethiopia (key African state) are booming, there is still huge scope to expand and diversify trade between the two countries, said V. Muraleedharan, Minister of State for External Affairs said on Wednesday.
Remarks by Shri V. Muraleedharan, Hon ble Minister of State for External Affairs at the India-Ethiopia Business Forum (February 17, 2021)
02/17/2021 | 08:20am EDT
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Required fields Your Excellency, Mr Demeke Mekonnen, Hon ble Deputy Prime Minister and Foreign Minister of the Federal Democratic Republic of Ethiopia, Ambassador Birtukan Ayano Dadi, State Minister for Foreign Affairs, Ambassador of Ethiopia in New Delhi Dr. Tizita Mulugeta, Shri Vineet Agarwal, President ASSOCHAM, Friends, Good afternoon and Namaskaram, Let me begin by extending a warm welcome to H.E. Deputy Prime Minister Mekonnen and his delegation to India. Let me also congratulate ASSOCHAM, the Ambassador of Ethiopia in India and her team for organizing this India-Ethiopia Business Forum meeting.
MoS MEA Muraleedharan says there s scope to diversify trade with Ethiopia ANI | Updated: Feb 17, 2021 22:48 IST
New Delhi [India], February 17 (ANI): Minister of State for External Affairs V Muraleedharan on Wednesday said that while Indian investors have invested strongly in Ethiopia, there is a scope to expand and diversify bilateral trade.
Speaking at the India-Ethiopia Business Forum, he said that Ethiopia is the second-most populous country of Africa. The Ethiopian economy has posted double-digit growth rates over 15 years. Ethiopia also has a highly-educated and skilled populace. These attributes are due to the sound economic policies of its leadership, he continued. It is natural then that Indian investors have invested strongly in Ethiopia to the mutual benefit of our two nations. I learned with happiness that today there are over 607 Indian companies in Ethiopia with a licensed investment of over US$ 5 billion. These Indian comp