NAIROBI, Kenya, Nov 8 – Millions of shillings worth of deals are expected to be struck as the 2016 India Engineering Expo in Kenya kicks off on Wednesday.
The expo which is the third time in Kenya has over 70 India firms participating up from the previous 66 firms in 2015.
The companies will be seeking to set up shop in Kenya as well as joint ventures with other companies and investors in the country.
India Engineering Export Promotion Council Executive Director and Secretary Bhaskar Sarkar said the companies deal with pharmaceutical and packaging machinery, agricultural machinery and equipment, medical and dental products among others.
Some of the leading engineering firms from Mumbai, Delhi, Kolkata, Pune and Ahmedabad are taking part in the Expo.
He said Indian companies are eyeing the growing Kenyan pharmaceutical and healthcare market that is estimated at Sh14.6 billion annually.
“The growth in the sector will be boosted by the strong demographics, increased healthcare need, longer life expectancy, rising healthcare spending in the public and private sectors and improved access to health facilities, “he said.
In the previous Expo that was held in February 2016, more than 2500 business visitors attended the expo generating Sh26 million worth of orders and Sh3.3 billion worth of inquiries while 88 per cent of the participants established business contacts.
“The upcoming Expo offers another opportunity for India to cement commercial ties with Kenya and neighbouring African nations, particularly with members of the East African Community (EAC),” he added.
Kenya is an important trade and investment partner for India with bilateral trade at Sh400 billion in 2014 – 2015.