A team of entrepreneurs representing different industrial segments from the city of Tirupur, India will travel to Ethiopia to explore investment opportunities in the country.
By R. Vimal Kumar (The Hindu)
A team of entrepreneurs representing different industrial segments from Tirupur (oftentimes acclaimed as “India’s Textile Valley“) will soon be embarking on a trip to Ethiopia for exploring the possibilities of setting up production bases there and utilize the preferential tariff advantages which Ethiopia enjoys in global markets. The Confederation of Indian Industry (CII) – Tirupur chapter will be coordinating the journey.
D. Venkatesh, vice-chairman of CII (Tirupur chapter) told The Hindu that the three sectors which were keen on having production and subsequent exports from Ethiopia include textiles, farming and food processing.
Investment destination
“Ethiopia, as an investment destination, is said to be holding distinct advantages for the said three segments when the produces manufactured there get exported. This is because of the many trade advantages the country has in advanced markets like United States”, he said.
Fertile lands
Analyzing segment-wise, the farming and food processing sector entrepreneurs will be keen on looking at how vast expanses of fertile lands available in Ethiopia, cheap labor and also the availability of water in abundance could be turned to their advantages.
Read the complete story at The Hindu
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See also:
- Chinese, South Korean, Indian Apparel Makers Landing in Ethiopia
- Ethiopia Desires More Investments from India than China: Negeri Lencho
- Investment Promotion Workshop: Ethiopia Welcomes Indian Investors, Says Minister
- Moving the Needle in Ethiopia: Building A “Best-in-class” Apparel Manufacturing Industry
- ‘We are committed to Make in India; Ethiopia venture is for export market’ Chairman of Raymond Group