India- East Africa Trade & Economic Relations to expand further Post Covid-19

No.PR-249 September 11, 2020 New Delhi India- East Africa Trade & Economic Relations to expand further Post Covid-19 PHDCCI International Affairs and Trade Fairs Division organised VIRTUAL B2B MEET on India - East Africa on 9-10 September 2020. H.E. Mr. Sanjiv Kohli, High Commissioner of India to Tanzania shared that Tanzania is one of the most vibrant and dynamic economies in the African continent. It has sustained relatively high economic growth, averaging 7-10%. Both the countries have evolved into an established relationship with greater and diversified economic engagement and development. Tanzania is among the top Trading, Investment &Cooperation partners of India in the region. He also highlighted the strategic importance of the Dar es Salaam port which provides a gateway for 90% of Tanzanian trade; it is also the access route to six landlocked countries in Africa. Shri Ashish Kumar Sinha, Acting High Commissioner of India to Kenya &Somalia said Kenya is an important trade and investment partner for India. Both the countries share civilization linkages and have growing trade and commercial ties which will further facilitate growth in the business. India is major trade and investment partner of Kenya with total trade volume of nearly US$ 2.2 billion. India exports to Kenya have risen by about 90% in the previous year. Mr. Pradeep Multani, Vice-President, PHDCCI while welcoming the dignitaries for the Meet highlighted that India’s economic partnership with East African countries has been vibrant, extending beyond trade and investment to technology transfers, knowledge sharing, and skills development. Mr. Vivek Agarwala, Chair, International Affairs Committee for Africa, PHDCCI while reflecting upon the trade between India and the region stated that the total trade between India and countries of the East African region has been to the tune of USD 8.07 billion, out of which the exports by the India to the region stands at USD 6.63 billion, while the Indian imports constituted USD 1.44 billion. Mr. Dhruv Aggarwal, Co-Chair, International Affairs Committee for Africa, PHDCCI while delivering the formal vote of thanks for the session, thanked all the dignitaries present on the occasion and highlighted that our interactions today will be offshoots in furthering the trade and economic relations India and East Africa. The inaugural session was moderated by Mr. Naveen Seth, Principal Director, PHDCCI and witnessed the participation of more than 167 businessmen from India and East Africa representing sectors such as Agricultural and Food Processing, Packaging, Healthcare & Food Processing, Textiles, IT & ICT, Building Materials, Chemicals, Paper & Paper Boards, Automobiles and Iron & Steel represented by Indian Companies (Advance Chemicals, K I Transpower Pvt Ltd., BANISON, BCH Electric Ltd, Bry-Air (Asia) Pvt. Ltd., Dr. Sabharwal's Wound Care, Eastman Cast & Forge Ltd., INTERCORP Biotech Ltd., IRC Worldwide Ltd., Kajaria Ceramics Ltd., NehaTokaPvt. Ltd., Ralycos LLP, Ruma Naturals LLP, S K Kalra & Associates, S K Kalra & Associates, Shakti Pumps (India) Limited, Star Wire India Ltd, Star Wire India Ltd, Syntegon Technology India Private, Vallava Graphic Machinery, OAYKAY Tools, Shubham Flexible Packaging Machines Pvt. Ltd.), while the buyers represented the following countries: Tanzania, Madagascar, Ethiopia, Uganda, Seychelles, Zambia, Rwanda, Kenya, Malawi. Ends Media Division PHD Chamber of Commerce and Industry