India–Kenya Explore Wider Trade Cooperation, Ink Key MoUs

ENA Global 2026-04-29 16:25:18 New Delhi, Apr 29 (KNN) The 10th session of the India Kenya Joint Trade Committee (JTC) concluded on Tuesday in Nairobi, aimed at reviewing and strengthening bilateral trade and economic cooperation. The meeting was co-chaired by Commerce Secretary Rajesh Agrawal, and Regina Akotah Ombam, Principal Secretary, State Department for Trade, Republic of Kenya. Discussions centred on diversifying trade, improving market access, and leveraging complementarities in sectors such as engineering goods, pharmaceuticals, agriculture and electronics. Both sides noted steady growth in bilateral trade, which rose to USD 4.31 billion in 2025 26, marking a 24.9 per cent increase from the previous year. MoUs to Boost Trade Facilitation Progress on trade facilitation was reviewed, including an Memorandum of Understanding (MoU) between the Bureau of Indian Standards (BIS) and the Kenya Bureau of Standards (KEBS). Another MoU, signed between the Central Board of Indirect Taxes and Customs (CBIC) and the Kenya Revenue Authority (KRA), aims to streamline customs procedures through the exchange of pre-arrival information. Separately, an industry-level MoU between the Confederation of Indian Industry (CII) and the India Kenya Chamber of Commerce and Industry seeks to promote trade, investment, and industrial collaboration on the sidelines of the JTC meeting. Local Currency Trade and Financial Cooperation Both countries explored expanding trade settlement in local currencies. Kenyan banks have opened Special Rupee Vostro Accounts (SRVAs) with Indian banks, and discussions included wider use of this framework along with a potential Local Currency Settlement (LCS) mechanism. Sectoral and Emerging Areas of Collaboration In manufacturing and engineering, opportunities were identified to expand exports of automobiles and machinery, alongside participation in events such as Autoexpo Kenya and The Big 5 Construct Kenya. Infrastructure cooperation, including support for Kenyas Standard Gauge Railway, was also discussed. In renewable energy, India expressed readiness to support solar and wind initiatives. Kenya also indicated its intent to sign the International Solar Alliance Framework Agreement. Digital cooperation discussions covered UPI-like systems, Bharat Connect and broader digital public infrastructure to enhance financial inclusion. (KNN Bureau) 45968 https://knnindia.co.in/news/newsdetails/global/indiakenya-explore-wider-trade-cooperation-ink-key-mous 2026-04-29 16:25:18 knnindia.co.in India–Kenya Explore Wider Trade Cooperation, Ink Key MoUs