Press release from Business Wire India
Source: Karuturi Global Ltd
Wednesday, February 29, 2012 12:14 PM IST (06:44 AM GMT)
Editors: General: Consumer interest, Economy, People; Business: Advertising, PR & marketing, Agriculture, Business services, Education & training, Hospitality, Major diversified industrial groups, Retailers
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Ethiopia Announces the Opening of a New Honorary Consulate in Bangalore
Bangalore, Karnataka, India, Wednesday, February 29, 2012 -- (Business Wire India) -- The garden city of India became the latest location to have an honorary consulate of the Federal Democratic Republic of Ethiopia H.E. Ms. Gennet Zewide, Ambassador, Federal Democratic Republic of Ethiopia in India presided over a ceremony hosted by Mr. Sai Ramakrishna Karuturi, Managing Director, Karuturi Global in the august presence of H.E. Mr. Abdu Muktar Kedir, Federal Minister for Cabinet Affairs and Head of the Prime Minister's office They were very pleased to announce the appointment of Mr Sai Ramakrishna Karuturi, Managing Director of Karuturi Global Ltd, as an Honorary Consul in Bangalore.
This Inauguration Ceremony was attended by a galaxy of Diplomats, Members of the Government, Industry Captains and Media.
Thanking Mr Karuturi for accepting to be an Honorary Consul. Ambassador spoke very high of him and mentioned that he has been a true Ambassador of Ethiopia not because of his investment only but because of his efforts in promoting Investments in Ethiopia. Honourable Minister was very pleased to be here and reciprocated the views of the Ambassador and was confident that this will go a long way in growing India Ethiopia relationship.
Addressing government officials, business leaders and representatives from various business chambers, he believed that the cooperation between India and Ethiopia can have symbiotic benefits for both the countries.
While Ethiopia could utilize India's affordable and appropriate technologies , as well as skilled resources for enhancing the lives of its people and ushering in a "green revolution", India - as one of the largest investors in Ethiopia, could also benefit from Ethiopia's investment friendly policies, large workforce and '13 months of sunshine'.
H.E. Mr. Kedir said investments in the area of dairy farming, agriculture, leather, textiles, steel, hospitality and education sectors were were attractive and called upon entrepreneurs from India to consider investing in Ethiopia in a big way. Currently, there are many Indian companies engaged in agriculture, leather, mining and manufacturing making Indian entrepreneurs one of the biggest group of foreign investors in Ethiopia.
Also speaking on the occasion Shri Jairaj, Addl. Chief Secretary of Karnataka spoke very eloquently about Ethiopia and its History and Culture reminiscing his days spent in Ethiopia on a World Bank Assignment. He also spoke about Coffee which is Ethiopia's gift to the world also binds Ethiopia with Karnataka which is India's largest Coffee growing region.
Earlier, delivering the welcome address, Mr Karuturi made an elaborate pitch on Ethiopia as a tourist and investment destination described Ethiopia as a country with rich heritage and history. He spoke about over 400 years of India - Ethiopia relationship. He invited investments in Ethiopia as it had all the necessary ingredients necessary for growth like negligible violence and corruption, single-window clearances for setting up industries, clear cut policies and the the affinity and regard of the Ethiopian government and people for India and its people. Strategically located close to the Middle East, he also said that Ethiopia offers a duty-free access to U.S. and European markets and that was one of the important reasons for Karuturi to first look at floriculture in the country. He added, Ethiopia with 1/3 of India's land area, has ONLY 1/8 of India's population.
He also said, "The goal of Karuturi is to reduce the cost of food for the Ethiopian people by producing grain locally, thus decreasing imports and saving precious foreign exchange. There are currently over 400 Indian investment projects in Ethiopia following the footsteps of Karuturi which shall create jobs, provide workforce skills and put more purchasing power in the pockets of its citizens.
Ethiopia adopted agriculture and rural centered development strategy known as agricultural development led industrialisation (ADLI). ADLI focuses on increasing small holder farm productivity and the expansion of commercial farms. If successfully implemented, it has the potential to reduce food insecurity, absolute poverty and environmental degradation.
The Minister and his team earlier in the day visited Narayan Hrudalaya and met with Dr Devi Shetty. They appreciated the wonderful facility created and are looking at replicating the same in Addis Ababa. He spoke about the dearth of specialized medical treatment in not only in Ethiopia but Africa and hoped that Addis Ababa can become a hub for low cost medical treatment as it is already a hub for travelers across Africa.
Honorary Consul Mr Ramakrishna stressed on Ethiopia as a tourist destination as it has unexploited historical destinations like the Lalibela Churches, Simien National Park, Fasil Ghebi, The Axum, and Negashi Mosque also called the 2nd Mecca. Addis Ababa is also the Political Capital of Africa as it is headquarters of the Africa Union and various UN organisations.
ABOUT Ethiopia
Ethiopia is located in the Horn of Africa and is bordered by Eritrea, Djibouti, Somalia, Kenya, South Sudan, and Sudan. The country has a high central plateau that varies from 1,800 to 3,000 meters (6,000 ft.-10,000 ft.) above sea level, with some mountains reaching 4,620 meters (15,158 ft). The climate is temperate on the plateau and hot in the lowlands. It has a population of 82 million and is the second largest country in Africa. Ethiopia's population is highly diverse. Most of its people speak a Semitic or Cushitic language. The Oromo, Amhara, and Tigreans make up more than two-thirds of the population, but there are more than 77 different ethnic groups with their own distinct languages within Ethiopia. Ethiopia is a federal republic under the 1994 constitution. The executive branch includes a president, Council of State, and Council of Ministers. Executive power resides with the prime minister. The current government has embarked on a program of economic reform, including privatization of state enterprises and rationalization of government regulation. The Ethiopian economy is based on agriculture, which contributes 42% to GDP and more than 80% of exports, and employs 80% of the population. Ethiopia is one of the fastest growing economies in Africa with a GDP growth of almost 11%. The major agricultural export crop is coffee, providing approximately 26% of Ethiopia's foreign exchange earnings. Other traditional major agricultural exports are leather, hides and skins, pulses, oilseeds, and the traditional "khat," a leafy narcotic that is chewed. Sugar and gold production has also become important in recent years. Ethiopia is a land of natural contrasts, from the tops of the rugged Simien Mountains to the depths of the Danakil Depression, at 120 meters below sea level one of the lowest dry land points on earth. The cornucopia of natural beauty that blesses Ethiopia offers an astonishing variety of landscapes: Afro-Alpine highlands soaring to around 4,300 metres, moors and mountains, the splendor of the Great Rift Valley, white-water rivers, Savannah teeming with game, giant waterfalls, dense and lush jungle.
CONTACT DETAILS
Ms Sujatha,, Office of the Honorary Consul of Ethiopia, +91 (80) 40809000, sujatha@karuturi.com
KEYWORDS
CONSUMER, ECONOMY, PEOPLE, MARKETING, AGRICULTURE, BUSINESS SERVICES, EDUCATION, HOSPITALITY, GROUPS, RETAIL
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