The Hindu Business Line : India to collaborate with Ethiopia in leather sector

NEW DELHI: Ethiopia and India on Friday signed a memorandum of understanding to help each other in leather industry through technology and market collaborations. Under the MoU, Ethiopia would allow the Indian leather industry access to the country's ri ch leather resources and also allow certain fiscal incentives for setting up manufacturing and training facilities.

India would collaborate with Ethiopia in terms of capacity building, setting up research institutes and training manpower in leather sector to explore new markets and produce new products to compete with developed nations. "There is tremendous opportunit y available in India and African nations like Ethiopia in the leather sector. There is a need to collaborate with Ethiopia in terms of capacity building, setting up research institutes and training manpower to explore new markets and produce new products to compete with developed nations," the Commerce Secretary Mr G K Pillai said here in the CII-Exim India-Africa partnership Summit.

The developing countries should not compete with each other. The focus should be on utilising their resources in best possible way to compete with other developed markets, Mr Pillai said. "I assure you that India will also provide funds for capacity bui lding and setting up training institutes in Ethiopia and other African countries." he said. "As huge opportunities are present in Ethiopia, Indian leather industry should make best use of Ethiopia's abundantly available leather resources," Mr Pillai sa id. India would also collaborate with African countries in exchanging research programmes setting up research institutes, he said. - PTI

Prev: US markets move up
Next: GSHL signs up iron ore, coalmining leases in 3 countries

Business Line | NUS Index |