Indian Ambassador to Ethiopia, Anil Kumar Rai expressed India’s keen interest in boosting economic cooperation with Ethiopia, particularly in the mining, construction, and infrastructure sectors.
Speaking to ENA, the ambassador reaffirmed India’s longstanding partnership with Ethiopia, emphasizing a shared commitment to development and economic cooperation between the two countries.
India is one of its old trusted partners of Ethiopia in development, the ambassador added, pointing out that India hosts a significant number of Indian companies that have established roots in the country with many generations considering Ethiopia their home.
He stated that among the sectors poised for development, the mining industry is the major one as Ethiopia is rich in untapped mineral resources, including phosphate and potash deposits in the Afar region, iron deposits in Amhara and Benishangul Gumz, and substantial gold reserves.
Indian companies, which have certain core competencies in areas of the mining sector, have a keen interest in investing in the exploration and extraction of valuable mineral resources, the ambassador underscored.
“Many of the sectors which will emerge out of the homegrown economic reform process, we will be keen and interested, mainly in the mining sector. , Ethiopia has unexplored potential for important mines and mineral products starting from phosphate and potash deposits in the Afar region, iron deposits in the Amhara and Beninshangul Gumz regions as well as the substantial amount of unexplored and untapped gold reserves. These are the areas where India has certain core competencies and we have large companies with a very long history of dealing in these areas of the sector. Plus, we also have a robust private sector which is looking for investments in this sector.”
Furthermore, the potential to develop a robust metallic sector is promising, given Ethiopia’s abundant land and water resources, alongside plans to become a leading producer of affordable electricity, he explained, indicating that this combination positions Ethiopia as an attractive destination for Indian investors looking to tap into the metallic market.
Beyond mining, India is interested in enhancing collaboration on construction and heavy infrastructure projects, particularly in urban rejuvenation and the development of urban centers, he pointed out.
Above all, the ambassador appreciated Ethiopia’s move of embarking on ambitious economic reforms aimed at fostering growth and attracting foreign investment, underscoring that as Ethiopia continues to tackle its economic challenges and create an enabling environment for private sectors, Ethiopia would emerge as a significant hub for global investments, including from India.
“Coming on the ground, we see that the economic reform has been taking place in Ethiopia. And, we feel that if the government of Ethiopia is tackling economic issues, this will emerge Ethiopia as an important center for investments from across the world including from India.”
Source: ENA
