Addis Ababa, July 13, 2025 (FMC) — India’s Ambassador to Ethiopia, Anil Kumar Rai, has lauded Ethiopia’s Homegrown Economic Reform Agenda as a game-changer that is drawing increasing interest from Indian investors across multiple sectors.
Ambassador Rai emphasized that the sweeping economic reforms undertaken by Ethiopia are significantly improving the country’s investment climate and creating strong momentum for Indian foreign direct investment (FDI).
“The Homegrown Economic Reform of Ethiopia has brought many transformative changes,” the ambassador told ENA. “The currency has been floated, the investment policy has been relaxed, and foreign investors now have the freedom to repatriate their dividends. In addition, the recent parliamentary bill that allows foreigners to purchase property in Ethiopia marks a major shift in the investment landscape.”
These reforms, he said, are creating a conducive environment for Indian companies, several of which are now actively exploring opportunities in Ethiopia.
Ambassador Rai also pointed to improvements in the money market and the opening up of the retail sector as further factors fueling interest among Indian businesses.
“Indian investors are particularly looking at sectors such as mining — which remains largely untapped — as well as information technology, banking and finance, and capital markets,” he noted.
Highlighting the importance of agriculture to Ethiopia’s economy, Ambassador Rai stressed that the sector continues to be a top priority for Indian investors.
“Agriculture is a key area, with Ethiopia offering vast arable land, abundant water resources, and a hardworking population,” he said. “Indian companies are keen to invest in cash crops, horticulture, floriculture, and medicinal and aromatic plants.”
Concluding his remarks, Ambassador Rai praised Prime Minister Abiy Ahmed’s leadership for spearheading the country’s economic transformation.
“His energy, vision, and dynamism are sure to bring substantial benefits to the people of Ethiopia,” he said.