India’s Ambassador to Ethiopia, Anil Kumar Rai, has hailed Ethiopia’s sweeping economic reforms as a turning point for foreign investment, highlighting growing interest from Indian investors across key sectors.
Speaking in an interview with the Ethiopian News Agency (ENA), Ambassador Rai praised the country’s Homegrown Economic Reform Agenda as a bold and transformative framework. “The currency has been floated, the investment policy relaxed, and foreign investors can now repatriate dividends,” he noted. “These are major policy shifts.”
Among the landmark developments, Ambassador Rai pointed to a recent parliamentary bill allowing foreigners to own property in Ethiopia. He described it as “a major shift in the investment landscape.”
These pro-market reforms are drawing attention from Indian businesses eager to explore opportunities in Ethiopia’s expanding economy. According to the Ambassador, Indian firms are eyeing several sectors, notably mining, information technology, banking, and capital markets, where Ethiopia offers untapped potential.
He further identified agriculture as a central pillar of Ethiopia’s economy and a top area of interest for Indian investment. “Ethiopia offers vast arable land, water resources, and a hardworking population. Indian companies are keen on cash crops, horticulture, floriculture, and medicinal plants,” Rai said.
He also highlighted recent improvements in the money market and the gradual liberalization of the retail sector as additional incentives for investors.
Ambassador Rai concluded by commending Ethiopian Prime Minister Abiy Ahmed’s leadership, describing his vision and dynamism as key drivers of the country’s economic transformation.
With momentum building, Ethiopia’s reforms continue to position the country as one of Africa’s most promising investment destinations. India is well placed to play a significant role in that growth story.
