Home / Knowledge / News / Textiles / Ethiopia to draw funds from India & China for industrialization
Ethiopia to draw funds from India & China for industrialization
Nov '10
Prime Minister of Ethiopia, Meles Zenawi, recently said that Ethiopia, with an intention to industrialize its highly agro-based economy, is looking forward to draw more investments from firms in India, China and Turkey.

Though being one of the poorest countries of the world, Ethiopia stated that it registered double-digit growth rates consecutively for six years, which has enabled it to grow into Africa's most rapidly developing non-oil producing nation.

Meles stated that, the country's industry is expected to grow at a higher pace than agriculture, in the coming five years. Further that, the country is likely to uphold a strategy of export-driven industrialization, while drawing investments would remain its main focus.

The Premier said that, the country's government would aim at the Chinese, Indian and Turkish companies interested in Ethiopia's emerging textile and leather sector.

He remarked that, the country is expecting to draw more funds from Turkey, but for textile industry it is expecting more funds to flow from India, while several Chinese and few European firms have showed their interest to invest in the country's leather sector.

Also, the country came out with its new five-year plan in August which envisaged a "base-case" situation having 11 percent average yearly growth and a "high-case” situation having a growth of 14.9 percent over the period.

Fibre2fashion News Desk-India

Must ReadView All

Textiles minister Smriti Irani at a press conference with minister of state for textiles, Ajay Tamta, the principal director general (M&C), PIB, AP Frank Noronha and other dignitaries. Courtesy: PIB

Apparel/Garments | On 23rd May 2017

Special package for knitwear coming soon: Irani

Union textiles minister Smriti Irani said that the government of...

Apparel/Garments | On 23rd May 2017

Apparel, footwear use may rise by 63% in 2030: Report

The apparel and footwear consumption is projected to rise by 63 per...

Apparel/Garments | On 23rd May 2017

Gap Inc earns $3.4 bn in net sales in Q1 FY17

Gap Inc's net sales for the first quarter of fiscal year 2017 were...

Interviews View All

Rajiv Sirohi

‘Portugal is taking away a major share of the mill made sector.’

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search