India and Ethiopia have signed agreements on trade, communication and media to boost the bilateral ties between the two countries as Hon’ble President of India, Mr. Ram Nath Kovind held talks with his Ethiopian counterpart Hon’ble Mr. Mulatu Teshome.
India has also thanked Ethiopia for its participation in the International Solar Alliance (ISA), established in 2015. The aim of the ISA is to provide a dedicated platform for cooperation among solar resource rich countries and promote the use of solar energy.
The president has also discussed Indian support to Ethiopia in the power sector, healthcare, and education. He has referred to India as among the top three sources of foreign direct investment for Ethiopia. A book titled ‘India- Ethiopia: 70 Years of Diplomatic Relations’ has also been released.
The India Business Forum is the first partner-country forum of its kind in Ethiopia and represents more than 100 Indian companies. Indian investment has had a significant presence in manufacturing in Ethiopia and value addition to local resources. Ethiopia has been the largest recipient of Indian concessional lines of credit in Africa, with over USD 1 billion committed.