Ethiopia is one of Africaâ€™s fastest growing economies and one of the regionâ€™s most attractive destinations for foreign investment which aims to become a major sourcing hub for the global textile and garment industry within the next decade. A high level of Ethiopian delegation led by the honourable Mr. Bogale Feleke, State Minister, Ministry of Industry, is in India for a five-day mission to promote investment in his countryâ€™s cotton, textiles and apparel sector.
The mission aims to raise Indian investorsâ€™ awareness of the opportunities on offer in Ethiopia. The countryâ€™s textile and clothing industry is burgeoning, aided by the presence of competitive labour costs and a skilled and motivated young workforce. The availability of raw cotton and other natural fibres, as well as preferential access to regional and international markets, create enormous export potential for the sector.
The Ethiopianâ€™s mission, includes visits to Delhi, Ahmedabad, Dindigul and Coimbatore, is being facilitated by the International Trade Centreâ€™s Supporting Indian Trade and Investment for Africa project (SITA) with the support of Indian business and industry associations. SITA, which is funded by the United Kingdomâ€™s Department for International Development, has as one of its aims to improve the competitiveness of value chains in a number of East African countries.
In Ethiopia, it is supporting the development of the cotton, textile and apparel value chain through partnerships with business and trade and investment support institutions in India. SITA works with the Government of Ethiopia and industry stakeholders to promote investment in the sector and facilitate technology exchange from India.
The delegation will attend a series of workshops in each of the four cities. In Delhi and Ahmedabad, they will be hosted by the Confederation of Indian Industry; in Coimbatore, by the South India Mills Association; and in Dindigul, by the Tamil Nadu Spinning Mills Association.
The workshops will provide a platform for engagement between Indian textile and garment manufacturers and the Ethiopian delegation where they can explore partnerships and opportunities for Indian companies in Ethiopia.
Bilateral meetings will allow members of the Ethiopian delegation and Indian business representatives to delve further into specific opportunities.
Minister Feleke said that this kind of event will provide opportunities for Indian companies to learn more about the countryâ€™s conducive investment environment and favourable business opportunities. This is a great time for Indian business to benefit from Ethiopiaâ€™s expanding investment opportunities.
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