India’s exports to Kenya during January to May 2012 have touched $893 million. India has also emerged as the largest exporter to the African nation, with exports constituting 13 per cent of that country’s total imports so far. The main products are pharmaceuticals, steel, machinery, yarn, vehicles and power transmission equipment.
Indian imports from Kenya during the same period amounted to $22 million. The products included soda ash, vegetables, tea, leather and metal scrap.
Overall, the India-Kenya bilateral trade has touched $2.4 billion at the end of fiscal 2010-11. India was a dominant partner in the bilateral trade with nearly $2.3 billion exports. The two-way trade is set to grow to $8 billion by 2015, according to Sumiyuki, Regional Development & Market Analyst, Japan Development Institute (JDI).
Speaking at an interactive business to business meeting organised by the Federation of Andhra Pradesh Chambers of Commerce & Industry in association with the Embassy of Kenya and JDI, he said that India is Kenya’s sixth largest trading partner.
Several Indian banks, telecom companies have a presence in Kenya. Nearly 15,000 visas are issued by the High Commission annually to Kenyans. The country invites investments in areas of agriculture, infrastructure, tourism, energy, health, ICT and building and construction etc he said.
Srinivas Ayyadevara, senior Vice-President, Fapcci, in his welcome address said financial services, R&D and tourism, particularly medical tourism, offer plenty of scope for investment for Kenyan businessmen in the State.