By Nicholas Nduati
Trade between Kenya and India is set to bolster following the launch of the Buyer-Seller Meet Initiative to promote Indian food in the country.
The Kenya National Chamber of Commerce and Industry Chairman Kiprono Kitonny says Kenya’s business community stands to benefit immensely from the initiative by acquiring new technology on food processing as well as sealing distribution deals with their Indian counterparts who are seeking to establish their products in the country.
Kenyan exports to India are currently estimated at 6 billion shillings annually while imports from India are higher at 116 billion shillings.
However, KNCCI Chair says that to correct the balance of trade between Kenya and India that is in favor of the Asian nation, Kenya plans to hold more and regular buyer-seller Meet initiatives in India to promote Kenyan products to Indian people.
To reach India’s level in terms of enhancing the value chain for food products, Kenyan investors perhaps need to borrow a leaf from their Indian investors who through simple methods such as vacuum storage technology are able to increase the shelf life of products.
With over 20 Indian companies participating in the event, some of the Indian foods on offer are natural fruit juice, confectionaries, non-preservative added tomato sauce and natural fruit jams.
Indian investors say sealing distribution deals with their Kenyan counterparts is among their priority agenda.