Chile
Mining – Investment Opportunities in Chile
Chile is a leading player in the international mining industry. Mining companies plan to invest US$57,000 million in the country through to 2024 and they spend over US$15,000 million a year on support services. Chile has at least 4,600 mining suppliers, including world-class companies.
Chile is home to 28% of the world’s copper reserves (USGS 2012) and is its leading copper producer (32%). It is also the fourth largest silver producer and accounts for an important share of the international market for natural nitrates (100%), iodine (58%) and lithium (45%).
Chile must move from exporting minerals to being an exporter of mining services in order to boost the industry as a whole.
(Source : Embassy of India, Santiago)
Ethiopia
Investment: The Ethiopian Investment Commission stated that Ethiopia has attracted Foreign Direct Investments (FDI) worth US$1.2 billion in the first half of the current financial year (2016-17) which has started last June. The country has targetted to attract FDI worth close to US$1.5 billion in the same period. Total FDI in Ethiopia in the 2015-16 fiscal year was US$2.2 billion. The Ethiopian Investment Commission announced that the country`s Foreign Direct Investment (FDI) jumped up by 35% on average over last six months compared to same period last year due to the expansion of multi-million dollar industrial parks in different parts of the country. The three Chinese manufacturing industries and two Indian companies, which took shades at Hawassa Industrial Park, are few of the foreign companies that came in during the stated period.
Renewable Energy Project: Ethiopia is the 5th major investor in renewable energy in Africa worth US$ 100 million, according to the Renewable, Global Status Report. Ethiopia has more than half a million solar lighting systems and over four million installed clean cooking stoves, making the nation among the top five in Africa when it comes to utilizing these technologies. South Africa leads in renewable energy investment followed by Morocco, the second major renewable energy investor at US$2 billion. Kenya comes to third position with investments worth US$357 million and Uganda at US$134 million is the fourth.
BILATERAL:
According to Ethiopian Revenue and Customs Authority, bilateral trade stood at US$1.37 billion in 2016, showing a 16% increase compared to 2015 figure. India’s exports to Ethiopia were US$1.30 billion and imports were US$68.4 million. Exports from India mainly include primary and semi-finished iron and steel products, drugs and pharmaceuticals, machinery and instruments, manufactures of metal, etc. Major imports by India from Ethiopia were: pulses, precious and semi precious stones, vegetables & seeds, leather and spices. India is the third important source of imports for Ethiopia, contributing 7.7% of all of Ethiopia’s imports next to China and USA. Sugar and pharmaceuticals are India’s major export items to Ethiopia, accounting for 14.5% and 13.0% respectively of India’s total exports to Ethiopia. It was followed by iron and steel products (12.1%), rice (12.0%) and machinery (4.8%). Pulses are the major items imported from Ethiopia, accounting 38.8% of India’s total imports from Ethiopia. It was followed by seeds (29.8%), oil seeds (11.0%), precious & semi precious stones (6.6), leather (5.1%) and spices (4.4%).
(Source : Embassy of India, Addis Ababa)
Egypt
Bilateral Trade
Indo-Egypt economic and commercial engagement has not only withstood the testing times of Egypt’s post-revolutionary years but also progressed distinctly defying all kinds of apprehensions and doubts. Even during the difficult transition phase of 2012, India earned the distinction of being the eighth largest global trade partner of Egypt. Significantly, India is the seventh largest destination of Egyptian Exports and eleventh largest source for Egyptian imports. Over the past years, India continues to remain a significant global trade partner of Egypt.
(Source : Embassy of India, Cairo)