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India, Ethiopia emerge as strong trading partner

A two-day exhibition of Indian textiles was held in Ethiopia last week (August 13 and 14). It was organized by the Ethiopian Chamber of Commerce and Sectorial Association along with the Indian embassy and the Synthetic and Rayon Textiles Promotion Council. About 20 Indian textile companies took part and exhibited a wide range of products including shirts, suits, fabrics, yarns and embroidery products.

The aim was to strengthen bilateral trade, particularly in man-made textiles. India’s synthetic and rayon textiles industry is currently worth $600 million and exports to more than 140 countries. India's total synthetic and rayon output is around 21 million sq. mt.

India is investing billions of dollars in Ethiopia. Trade and investment relationship between the two countries has shown significant progress. From 1992 to 2012, a total of 365 Indian firms took investment licenses for different projects in Ethiopia. The total trade turnover was $1.3 billion between the two countries in 2013. There are 140 textile factories in Ethiopia, seven of these are Indian companies. India’s 2013 export of textile and clothing products was $40 billion, which the country plans to double to $80 billion by 2020.