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Kenya is the biggest and most advanced economy in east and central Africa with strong growth and prospects, supported by an emerging urban middle class and increasing appetite for high value goods and services. Kenya and the wider east African region possess huge potential which is why QUICKMARC decided to organize such a large scale B2B event. Globally, there are many different but below are a few facts about Kenya and the region to highlight about the companies can expand their businesses by entering, developing and growing in region:
INDIA-KENYA trade links and commercial ties between India and Kenya go back several centuries. At present, Kenya has a large minority of Indians and Persons of Indian Origin (numbering over 100,000 people). After independence in 1948, India established an Office of the Commissioner for British East Africa resident in Nairobi in 1948.
Further, following Kenya’s independence in 1963, an Indian High Commission was established in Nairobi and an Assistant High Commission set up in Mombasa. Kenya maintains a High Commission in New Delhi. Kenya and India are members of international bodies such as the United Nations, Non-Aligned Movement, Commonwealth of Nations.
Bilateral cooperation between the two countries has tremendously improved post the economic reforms in India. In April 2015, the Government of India approved US$100 million LOC to the Government of Kenya for the Agricultural Mechanization Project. Further in January 2016, an LOC of US$ 29.95 million was approved by Government of India to Kenya to upgrade the Rift Valley Textiles Factory.
With regard to investments, Indian investments in Kenya are now worth $1.5 billion and India’s pharmaceutical exports have played a key role in making essential drugs available at affordable prices in Kenya. India also offers 101 fully funded scholarships for Kenyans annually under its Indian Technical and Economic Cooperation Programme for training them in technical skills. The area of cooperation between the two countries also includes development of various SMEs.
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