CII organized an Interactive session with Mr. YogehswarVarma, Indian High Commissioner to Kenya on5 February, 2015 in Delhi. The meeting was attended by around 12 Industry members from a variety of sectors.
Mr. AmbujChaturvedi, Executive Director, Overseas Infrastructure Alliance (OIA), welcomed the participants and started the interaction on a positive note, by giving examples of OIA's successes in African countries. In his remarks, he commented that Kenya is an important trade and investment partner for India. Principal Indian exports to Kenya include pharmaceuticals, steel products, machinery, yarn, vehicles and power transmission equipment. He said main Kenyan exports to India include soda ash, vegetables, tea, leather and metal scrap. There are more than 40 Indian companies with offices in Kenya and these are engaged in wide range of sectors including telecom, IT, irrigation, waste-water treatment, pharmaceuticals as well as manufacturing.
Mr. Chaturvedi further stated that over the years there have been several interactions between the Kenyan and Indian industry which have been organised by CII. Members from Kenyan Industry have regularly come to New Delhi to participate in the CII-Exim Bank conclaves on India Africa Project partnership. He said that 15 Indian companies participated at the 15th Build Expo Africa (May 2012), through CII. The All India Plastics Manufacturers delegation also visited Kenya in June 2012. CII hosted an Interactive session for the Vice President of Kenya, H.E. Dr. S. KalonzoMusyoka on 2 May, 2011.
MrYogeshwarVarma, Indian High Commissioner said thatIndian's today in Kenya number around 100,000 and hold almost half the economy and can be seen as an asset. More than half of the real estate is owned by them. Banking is also largely in the hands of the Indians. There is only one government bank in Kenya. All the other are private, out of which nine are Indian owned. This is a good sector and Indians are well linked with political power. Indian diaspora in Kenya may like to get into collaboration with new companies coming from India.Mr. Varma underlined that there is potential for investment in the leather, textile industry and geothermal and wind energy. There are also opportunities for investment in healthcare as Kenya is in need for good hospitals with Indian doctors.
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