Kenya is the leading economy in East Africa with well developed business infrastructure attracting a diverse range of international firms who have made the country their regional base. Economic expansion is fairly broad based and is built on a stable macro-environment fostered by the Government of Kenya. By African standards, Kenya has a substantial and robust private sector. The domestic private sector has been concentrated in food-related manufacturing for both the domestic and regional markets and a significant tourism industry for which it is well known.
Kenya Vision 2030 is the country’s new development blueprint and aims to transform Kenya into a globally competitive and prosperous nation a high quality of life by the year 2030. Three pillars of the strategy are Economic (achieving sustained economic growth of 10% per annum), Social (developing a just and cohesive society enjoying equitable social development) and Political (evolving an issue-based, people centered, result oriented and accountable political culture). The Vision 2030 calls for Kenya by 2030 to be a ‘Globally competitive and prosperous nation with a high quality of life’.
There are ample and promising investment opportunities available in key sectors of our economy like infrastructure, building and construction, energy, information and communication technology, agriculture, tourism, power, water, sanitation, logistics and financial sector among others.
India Kenya Business Relations
The East African coast and the west coast of India have long been linked by voyages of merchants. India was among the first countries to establish an office in Kenya. The Indian Diaspora in Kenya has contributed actively to Kenya’s progress. In recent times, there is a growing trade (US$ 1.5 billion in 2010) and investment partnership. Indian firms have invested in telecommunications, petrochemicals and chemicals, floriculture, etc. and Indian firms have executed, engineering contracts in the power and other sectors.
India has reclaimed its position as the second largest exporter of goods to Kenya, signaling that it is gaining momentum in the race with China for control of Africa’s fast-growing consumer markets.Kenya mainly exports vegetables, soda ash, tea, metal and leather to India and imports Pharmaceuticals, machinery, steel products, automobiles and power transmission devices.