Kenya is exploring ways to increase direct investments in technology, research in
medicine, agriculture and other sectors from India in order to create more jobs and
opportunities for the youth.
The Deputy President of Kenya, Rigathi Gachagua, stated that Kenya has enjoyed
longstanding ties with India and there is a need to deepen trade ties for mutual benefit.
During a meeting with India’s Parliamentary delegation, led by the Speaker of the Lower
House, Mr. Om Birla, at his Harambee House Annex office, Gachagua said, “The
medical facilities in India have helped many Kenyans. We welcome you to set up
industries and research institutions to create jobs for our youth.”
The Deputy President also stated that the Kenyan embassy in New Delhi will be tasked
with marketing the investment opportunities in Kenya, especially in technology,
agriculture and other forms of innovation.
Birla, for his part, acknowledged that India is rapidly growing in technology, particularly
in defense and infrastructure development, and therefore there is an opportunity for
further collaboration between the two countries.
Trade between Kenya and India has grown from Sh97.44 billion in 2008 to Sh241.43
billion in 2021. Kenyan exports to India stood at Sh10.42 billion in 2021, including dried
leguminous vegetables, carbonates, tea, wool, scrap metal, waste and scrap copper, zinc
articles, precious and semi-precious stones and coffee among others.
In the same year, India’s exports to Kenya were valued at about Sh231.01 billion,
including medicaments, petroleum oils, semi-finished products of iron or non-alloy
steel, motorcycles, rice, motor vehicles paper and paper board, tractors, ethylene,
polymers, among others. The Deputy President noted the need to explore more
collaboration and partnership for mutual benefit, especially given the current imbalance
in favor of India.
The call for more investment from India falls within the Kenya Kwanza Plan of
industrialization as one of the ways of creating opportunities for the more than 7 million
job seekers in the country. Investment in technology is also poised to drive the digital
economy, which is central to President William Ruto’s administration.
Currently, more than 60 companies from India have invested in various sectors in
Kenya such as manufacturing, real estate, pharmaceuticals, Telecommunication and
information technology, banking and agriculture. With a value of about USD 3.5 billion,
India is the second largest investor in Kenya.
The Speaker of the Lower House, Mr. Om Birla, also invited Deputy President Gachagua
for a visit to India for deeper engagements and further collaboration opportunities.
