Ethiopia seeks Indian investments
Ethiopia's ambassador in India recently stated that Ethiopia is “working hard to be where India is, at present.” The African country is seeking “trade tie-ups with India to further enhance the growth of our economy”, said Ms Gennet Zewide, ambassador, Federal Democratic Republic of Ethiopia to India. Ethiopia is looking for investments from India in sectors such as leather, farming, textiles, steel, hospitality, food processing and education.
The Indian government recently committed to building a railway line between Ethiopia and Djibouti which will make Ethiopia the highest beneficiary of India’s constructive engagement in Africa.
Ms Zewide was in Chennai to inaugurate Ethiopia’s honorary consulate in the town, and to announce the appointment of Mr Manikam Ramaswami, chairman and managing director of Loyal Textile Mills, as an Honorary Consul in Chennai.
Addressing government officials, business leaders and representatives from various business chambers, Ms Zewide said Ethiopia is a "power surplus" country. Currently, there are many Indian companies engaged in agriculture, leather, mining and manufacturing, making India as one of the biggest foreign investors in Ethiopia. “We are a poor country and working hard to be where India is at present. Our GDP has been growing at 11% for the last eight years, thanks to the support of friendly countries such as India,” she said.
