President Ram Nath Kovind invites investors from Ethiopia to come and Make in India

New Delhi, Oct 6 (KNN) Eyeing at strengthen the tis between India and Ethiopia, President Ram Nath Kovind who is on a state visit to African country, invited the businesses and other key stakeholder to partner with the country and take advantage of the framework rolled out between the two countries.

The President said that India’s relationship with Ethiopia is symbolic of its engagement with the African continent, of which Addis Ababa is such a vital hub.

Citing the Third India Africa Forum Summit in New Delhi held earlier in 2015, the President informed that India had announced the offer of concessional credit of US$ 10 billion over the next five years to Africa. This was in addition to the on-going credit programme.

The President also informed that India have committed to a grant assistance of US$ 600 million that will include an India-Africa Development Fund of US$ 100 million and an India-Africa Health Fund of US$ 10 million.

President Kovind said that it is a good time for the  aspiring investors from the African country to visit India and take advantage of these schemes.

The President also held led delegation-level talks with his counterpart, President Mulatu Teshome. The talks covered different aspects of potentials in expanding the trade relations between the two countries.

India and Ethiopia also signed two bilateral agreements including agreement on trade facilitation and coordination in information communication and media sector. (With PIB Inputs) (KNN/DA)