India-Africa ties get stronger

New Delhi: The Ethiopian Government has offered a substantial share of its 3 million-hectare farm land to Indian entrepreneurs. This was declared by Meles Zenawi, Prime Minister of Ethiopia, at a press conference in Addis Ababa.

The Prime Minister of Ethiopia said that this will bring capital, technology, infrastructure and jobs to the rural areas of the country. This offer is expected to increase the quantum of trade between the two countries and the Indian presence would add value to Ethiopian products. "India has promised to invest in the textile sector and this would hugely help our local industry," said the Ethiopian Prime Minister. Indian investors have already committed US$ 4.7 billion investment in the farm sector of Ethiopia.

Moreover, the Prime Minister of India, Dr Manmohan Singh, has said at the 2nd Africa-India Forum Summit that, “We should encourage trade and investment flows as well as transfer of technology. Private sector should be fully involved in the efforts to integrate our economies.”

The Indian Government is also looking to unveil a new policy to promote Indian companies in the International markets.