India Loves Africa, Inks Massive Trade Deal With Kenya

The Indian juggernaut rolls on in Africa. Renewable energy, textiles, cruise ship ports, and railways are all part of this latest deal.

Nairobi train

India and Kenya are looking to double their trade in the next two years. Kenya wants support in its textile industry and India has its eye on renewable energy sources. The new agreement aims to goose bilateral trade up to 200 billion Kenyan shillings, or about $2.5 billion, by the end of 2013.

India, it seems, is emerging to be a prominent player across the continent of Africa. Trade has grown 145% in the past four years between India and South Africa alone. Yesterday we wrote about India and South Africa partnering up to fight HIV.

"India’s state-run power equipment maker Bharat Heavy Electricals Ltd (Bhel) proposed to partner with Kenyan government-owned Numerical Machining Complex Ltd to set up a transformer manufacturing plant to serve eastern and southern Africa regions," reports Business Daily Africa.

The Kenyan cities of Mombasa and Lamu are to get support from the Rail India Technical and Economic Service (RITES) in developing cruise ship port facilities. RITES also expressed interest in developing the Nairobi Metropolitan Mass Rapid Transit Programme and Rapid Light Rail. The Industrial Development Bank (IDB Capital Limited) of Kenya and Exim Bank of India will be facilitating some of the transactions.

Once again, we have evidence that the developing world is partnering up in ways that leave the West entirely out of the picture.

Follow me, Jenara Nerenberg, on Twitter.

[Image: Rotsee2]

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