Over 60 firms from the engineering sector in India will from 9th November participate in the 34th Indian Engineering Exhibition (INDEE) Kenya 2016.
The 3 day Exhibition at the KICC is expected to bring the latest development in Indian engineering through display of different segments of the industry and will provide a platform for manufacturers as well as exporters to show skills and innovation.
Speaking today during a press conference at a Nairobi hotel on the upcoming exhibition, Chairman of the EEPC India, Tarvinder Bhasin, said the exhibition will be key for Kenyan engineering departments to learn and exchange ideas with the Indian sectors which has witnessed a remarkable growth over the last few years driven by increased investments in infrastructure and industrial production.
“This upcoming INDEE Kenya offers another opportunity for India to cement commercial ties with Kenya ,one of the largest and most advanced economy of East and Central Africa”, he said.
Bhasin said that engineering sector being closely associated with the manufacturing and infrastructure sectors is of strategic importance to the economy and accounts for the 3 percent of India’s GDP constituting more than 20 percent of India’s total exports.
Kenya is one of the major African trade partners of India with the two nations enjoying close and cordial relations that go back historically.
Bhasin said that trade relations between India and Kenya has more than doubled in the last few years where it was valued at over USD 4.2 billion in 2015 from a level of 2.3 billion in 2010.
“Present trade composition suggests that still there are many areas which the two sides can explore to further strengthen bilateral trade and investments relationship”, he added saying that the exhibition will seek to further strengthen the relationship.
He noted that India and Kenya recently signed various agreements in order to enhance economic engagement between the two nations, namely an MOU in the area of defence cooperation, and another in the field of Standardisation, expertise sharing and mutual trade between both countries Bureau of Standards.
India, Bhasin said will extend a line of credit of Ksh 1.5 billion (USD 15 million) to Indian Development Bank (IDB) Kenya for development of various small and medium enterprises (SMEs) in the East African Country.
He noted that in today’s economic environment where most countries are looking inwards, India is looking outwards and they believe that the INDEE Kenya will be a major step forward.
The INDEE Kenya 2016 is being organised with support of the Department of Commerce, Ministry of Commerce and Industry, Government of India and the Embassy of India in Kenya.