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Ethiopia–India relations have existed for almost two millennia. Modern diplomatic relations between India and Ethiopia were established at the level of legations in July 1948, after the independence of India. The relationship was raised to the ambassadorial level in 1952. [1] India maintains an embassy in Addis Ababa and Ethiopia in New Delhi.
As of 2023, India is the seventh largest exporter of commercial services in the world, [12] accounting for 4.6% of global trade in services. India's service exports grew by 27%. [13] In September, India's prominent services industry experienced an acceleration in growth, buoyed by robust demand in the sector.
According to the Ministry of Commerce and Industry, the fifteen largest trading partners of India represent 61.67% of total trade by India in the financial year 2022–23. [1] These figures include trade in goods and commodities , but do not include services or foreign direct investment .
On paper, Abiy can boast of having opened up Ethiopia's health, e-commerce and transport services sectors through a new investment law. Ethiopia's economic reform drive splutters for foreign investors
[371] the current Foreign minister Samuel Santos López visited India in 2008 for the SICA-India Foreign ministers' meeting and in 2013 [372] for high-level talks with the then External Affairs Minister Salman Khurshid which also expanded bilateral trade with the two countries reaching a total of US$60.12 million during 2012–13.
Foreign direct investment (FDI) in India has reached 2% of GDP, compared with 0.1% in 1990, and Indian investment in other countries rose sharply in 2006. [18]As the third-largest economy in the world in PPP terms, India is a preferred destination for FDI; [19] India has strengths in information technology and other significant areas such as auto components, chemicals, apparels ...
ASEAN-India Trade in Goods Agreement: CECA ASEAN: 13 August 2009 1 January 2010 [7] ASEAN-India Trade in Services Agreement: November 2014 1 July 2015 [7] [19] ASEAN-India Investment Agreement: November 2014 1 July 2015 [7] [19] Global System of Trade Preferences (GSTP) PTA 41 countries 13 April 1988 19 April 1989 India Mercosur Preferential ...
Furthermore, the government of Ethiopia is purportedly unhappy with lost tax revenue and foreign exchange revenues. [86] Recent initiatives have sought to document and regulate this trade. [86] Dependent on a few vulnerable crops for its foreign exchange earnings and reliant on imported oil, Ethiopia lacks sufficient foreign exchange.