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Indian Economy - Understanding the basics of Indian economic system

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09-Jun-24

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India Exim Bank Opens branch in Nairobi to Boost East Africa Trade

The Export-Import Bank of India (India Exim Bank) has recently inaugurated its East Africa Representative Office in Nairobi, marking a significant step towards expanding India’s business presence in the resource-rich and demographically young continent.

This strategic move is anticipated to enhance engagement with industry stakeholders, private and public sector companies, as well as financial institutions in the region, thereby bolstering trade and investment between India, Kenya, and the broader East African region.
Merchandise trade between India and East Africa has experienced notable growth over the past decade, increasing from USD 9.7 billion in 2013 to USD 12.9 billion in 2022.
India's exports to East Africa rose from USD 8.6 billion in 2013 to USD 9.4 billion in 2022, highlighting the robust economic ties between the two regions.

By: Brijesh Kumar

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