Thursday, September 13, 2012

India & Kenya Bilateral Trade worth $8 billion by 2015: Mr. Sumiyuki OTSUKI, JDI

 The Federation of Andhra Pradesh Chambers of Commerce & Industry in association with Embassy of Kenya & Japan Development Institute (JDI) Organized an Interactive Organizing an B to B Meeting with Kenyan Delegates and Hyderabad Entrepreneurs on “Bilateral Trade & Investments” on September 11, 2012 at Federation House, Red Hills, Hyderabad. Mr. Sumiyuki OTSUKI, Regional Development & Market Analyst, Japan Development Institute (JDI) was the Chief Guest for this occasion.

Mr. Srinivas Ayyadevara, Senior Vice President, FAPCCI, Ms. Grace Fikirini, KIBT, Mr. Soloman Kiawa, Mr. David Tamina, EPC, Mr. Austin S. Macheso, Ms. Mercy Kiyogora, CEO, Integrity Management Advisory Center Ltd, Mr. Steven Kirui, Director, KIBT, Mr. Shiv Kumar Rungta, Vice President, FAPCCI, Mr. Shyam Sunder Pasari, Chairman, International Trade Committee, FAPCCI and  Mr. A.S. Kumar, Deputy Secretary General, FAPCCI was the other speakers.

Mr. Srinivas Ayyadevara, Senior Vice President, FAPCCI said in his welcome address is that the Andhra Pradesh is India's fourth largest State gets much of its revenues from the Services sector and Agriculture.  Andhra Pradesh ranks second in India in terms of mineral wealth.  Our State has well-developed social, physical and industrial infrastructure and virtual connectivity, It has emerged as a key state for the knowledge-based industry including IT, Pharmaceuticals and Biotechnology.  Over 70 of the 500 top global corporations are present in the State.   Investment opportunities are abundant specifically in the manufacturing sector which includes food processing, floriculture, agro processing, petrochemicals, metals, textiles, leather, mining, transport equipment, telecom and so on.  The infrastructure sector is rife with opportunities, be it the areas of power, ports, roads, bridges, telecom facilities, development of coasts, waterways… Financial services, R&D and Tourism, particularly medical tourism, offer plenty of scope for investment.  I request the delegation members to kindly impress upon the Kenyan Businessmen and invite them to our State for exploring the business opportunities.

Mr. Sumiyuki OTSUKI said that India is Kenya’s sixth-largest trading partner. Bilateral trade grew by 57% to reach US$ 2.4 billion in 2010-11 and we expecting US$ 8 by 2015. Nearly US$ 2.3 billion constituted India’s exports to Kenya.  The Indian exports to Kenya during January-May 2012 was US$ 893 million (13% of total Kenyan imports, largest exporter to Kenya), while Indian imports from Kenya during the first quarter of 2012 amounted to US$ 22 million. Main Indian exports to Kenya include pharmaceuticals, steel products, machinery, yarn, vehicles and power transmission equipment. Main Kenyan exports to India include soda ash, vegetables, tea, leather and metal scrap. 

Several Indian firms have a business presence in Kenya as well as the Bank of India, Bank of Baroda and HDFC.  Many Kenyans study in India. Nearly 15,000 visas are issued by the High Commission annually. Many Indians travel to Kenya for tourism as well as on business.  We invites investments in the areas of Agriculture, Infrastructure, Tourism, Energy, Manufacturing, Health, Financial and other related services, ICT and Building & construction etc Mr. OTSUKI said. 

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