Ethiopian textile sector benefits from Indian investment
According to Indian ambassador, Bhagwant Bishnoi, Ethiopia is becoming a major hub for Indian investment. Indian companies are increasibly investing in textiles, leather, mining, education and hospitality.
Mr Bishnoi claims the volume of Indian investments is set to grow by approximately $1 billion each year, having already reached $4.4 billion per year.
Ethiopia is also an important export destination for India. Goods exported to the African nation include yarns and textiles, machinery and instruments and paper and paper products. Indian imports of Ethiopian goods is increasing but at a relatively slow rate. Mr Bishnoi believes there is scope for much higher import levels in the future, including raw cotton, raw hides and skins and leathergoods.
