India explored opportunities to increase exports of petroleum products, cars and motorcycles, and mobile phones to Kenya during the joint trade committee meeting of the two countries. The Eighth Session of the India-Kenya Joint Trade Committee Meeting was held in Nairobi recently, the Capital city of the African nation.
India is the second largest investor in Kenya according to KenInvest. The bilateral trade was valued at USD 2.05 billion in 2017-18.
"We are keen to explore new opportunities in logistics, agriculture, energy, pharma and many other sectors with Kenya," Commerce Minister Suresh Prabhu said in a tweet.
According to the sources, India has identified petroleum products (medium and light oils); medicaments for therapeutic or prophylactic purposes; motor vehicles/cars/motorcycles and products of iron and steel, as potential products to increase its exports to Kenya.
In 2017-18 India's top items of exports were petroleum products, drug formulations, biological, industrial machinery, paper, iron and steel, plastic raw materials, manmade yarn, fabrics madeups, and electric machinery, among others.
The joint trade committee meeting has taken place against the background of India's exports to Kenya dropping to USD 1.97 billion in 2017-18 from from USD 4.11 billion in 2014-15. India's imports from Kenya too slowed down from USD 117.42 million to USD 72.57 million during the same period.