India to help Kenya revive its textile sectorOctober 14th, 2010 - 8:58 pm ICT by IANS
Nairobi, Oct 14 (IANS) India has offered technical assistance to Kenya in reviving its textile sector, which employs nearly one-third of the East African country’s industrial workforce.
“India offered to collaborate in Kenyan efforts for revival of its textiles sector by providing technical assistance in skill building for the entire value chain - transfer of technology in ginning and processing, collaboration with Indian Textiles Research Association and exploratory visits for businessmen and buyer-seller meets,” an official statement said Thursday.
Commerce and Industry Minister Anand Sharma met Kenyan Prime Minister Raila Amolo Odinga in Nairobi and offered Indian support to Kenya in several sectors, including agriculture, pharmaceutical, infrastructure and information technologies.
Sharma said India and Kenya have agreed to greater engagement between the Kenya Investment Authority and InvestIndia, which would help in trade and investment flows between the two countries.
The two countries have agreed to fast-track the finalisation of a Bilateral Investment Promotion and Protection Agreement (BIPPA) and a revised Double Taxation Avoidance Agreement (DTAA).
India and Kenya plan to sign agreements for cooperation in the field of tourism and civil aviation, human resource development and scientific and industrial research.
The commerce minister also Thursday inaugurated “Namaskar Africa” event in the Kenyan capital organised by Federation of Indian Chambers of Commerce and Industry (FICCI) in association with the ministry of commerce and industry.
The two-day event comprises an “India Exhibition” and the “India-East Africa Business Forum” with participation of business delegations from 12 East African countries. The forum has the largest ever business delegation from India.
Indian companies have shown a growing interest in Kenyan markets in the recent years. Indian firms have invested over $1.5 billion in Kenya so far.
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