Ethiopia seeks Indian investment in textile industry
Ethiopia, one of the fastest growing countries of Africa, is seeking India's investment in its textiles industry. For this, a workshop on the investment opportunities in Ethiopian textiles will be held on July 21, 2017. The session will be hosted by Ethiopian Investment Promotion and International Trade Centre and The Southern India Mills' Association.
The investment promotion workshop will provide a platform for engagement between Indian textile industries and a high-level Ethiopian delegation to explore partnerships in the sector. It will also raise awareness of existing opportunities for investment in Ethiopia with a particular emphasis on the textile and garments. The session would highlight key factors that serve as Ethiopia’s comparative advantages in the cotton, textile and apparel sector.
Ethiopia is expected to become a sourcing hub for the global textile and garment industry within the next decade. With a workforce of more than forty-seven million, the country offers a large supply of valuable human resources at affordable wages. With electricity tariffs at $0.04 per kWh, industries have been able to achieve greater competitiveness over their counterparts elsewhere. Investors engaged in manufacturing are also able to import capital goods for an indefinite period free of customs duties. (RR)