India,Ethiopia sign MoU to collaborate in leather sector
Under the MoU, Ethiopia would allow the Indian leather industry access to the country's rich 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,it was indicated.
"There is tremendous opportunity 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 G K Pillai said in the CII-Exim India-Africa partnership Summit.
The developing countries should not compete with each other. The focus should be on utilizing their resources in best possible way to compete with other developed markets, Pillai said. "I assure you that India will also provide funds for capacity building 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," Pillai noted.
