{"id":116419,"date":"2024-04-09T21:12:25","date_gmt":"2024-04-09T21:12:25","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-fronts-tax-incentives-to-attract-indian-investments"},"modified":"2024-04-09T21:38:33","modified_gmt":"2024-04-09T21:38:33","slug":"kenya-fronts-tax-incentives-to-attract-indian-investments","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-fronts-tax-incentives-to-attract-indian-investments","title":{"rendered":"Kenya fronts tax incentives to attract Indian investments"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Kenya is eying more investments from India as the country\u2019s chamber of commerce fronts the National Industrialisation Policy 2012-2030 as an enabler for Foreign Direct Investments (FDI).<\/p>\n

This is mainly on the tax incentives that the policy come with, among them a 10-year tax holiday for investors in Special Economic Zones and Export Processing Zones.<\/p>\n

Investors then start paying a 15 per cent corporation tax for 10 years before reaching the 30 per cent cap.<\/p>\n

Licensed SEZ enterprises, developers and operators also benefit from other tax rebates such as exemption from excise duty, customs duty, value-added tax and stamp duty.<\/p>\n

There are also no tax or restriction on foreign investors for repatriation of profit.<\/p>\n

The Kenya National Chamber of Commerce and Industry (KNCCI) is courting Indian firms to invest in manufacturing, apparel, clothing, renewable energy, mining and agro-processing, among other sectors.<\/p>\n

\u201cWe invite the Indian industry to participate in Kenya Vision 2030 which aspires to transform Kenya into a middle income rapidly-industrialising country. Kenya is a safe place for foreign investors and Indians have been doing business in the country for more than 120 years,\u201d KNCCI president Erick Rutto said.<\/p>\n

He spoke during a luncheon meeting at the World Trade Centre Mumbai. The meeting was organised by WTC Mumbai and All India Association of Industries (AIAI).<\/p>\n

There are currently over 200 Indian companies present in various sectors including manufacturing, pharmaceuticals, telecom, IT, banking and agro-based industries in Kenya.<\/p>\n

Notable firms include Bank of Baroda, Bank of India and KenIndia Assurance, and private companies like Bharti Airtel, Air India, Indigo Airlines, Tata Motors, Tata Chemicals, and Mahindra & Mahindra.<\/p>\n

India is the third largest trading partner with Kenya after China and the UAE, with bilateral trade being valued at $ 3.39 billion (Sh440.7 billion) as of last year.<\/p>\n

Rutto called on India\u2019s technical cooperation for developing industrial clusters and parks to promote Kenya\u2019s manufacturing and MSMEs.<\/p>\n

According to Rutto, Indian firms stand to benefit from the African Continental Free Trade Agreement (AfCTA).<\/p>\n

He also called for public private partnership (PPP) projects in infrastructure sectors such as water, solar energy, wind energy, hydro-power, geothermal, ports, roads, railways among others.<\/p>\n

Kenya is expected to invest at least $4 billion (Sh520 billion) in the infrastructure sector in the next decade.<\/p>\n

\u201cWe want Indian companies to participate in this opportunity, Rutto said.<\/p>\n

India\u2019s EXIM Bank has extended $ 250 million (Sh32.5 billion) line of credit for industrialisation in small and medium enterprises (SMEs).<\/p>\n

This offers huge export opportunity for Indian companies as 85 per cent of the project equipments should be sourced from India, under the terms of this line of credit.<\/p>\n

MVIRDC World Trade Center Mumbai chairman Vijay Kalantri said:\u201d Indian companies should consider Kenya as the gateway to the East Africa and also to the entire Africa.\u201d<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Kenya is eying more investments from India as the country\u2019s chamber of commerce fronts the National Industrialisation Policy 2012-2030 as an enabler for Foreign Direct Investments (FDI). This is mainly on the tax incentives that the policy come with, among them a 10-year tax holiday for investors in Special Economic Zones and […]<\/p>\n","protected":false},"author":84,"featured_media":116418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-116419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nKenya fronts tax incentives to attract Indian investments - kenya<\/title>\n<meta name=\"description\" content=\"Kenya is eying more investments from India as the country\u2019s chamber of commerce fronts the National Industrialisation Po ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-fronts-tax-incentives-to-attract-indian-investments\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kenya fronts tax incentives to attract Indian investments\" \/>\n<meta property=\"og:description\" content=\"Kenya is eying more investments from India as the country\u2019s chamber of commerce fronts the National Industrialisation Po ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-fronts-tax-incentives-to-attract-indian-investments\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-09T21:12:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-09T21:38:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/04\/sm_1712682326.560922.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"703\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-fronts-tax-incentives-to-attract-indian-investments#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-fronts-tax-incentives-to-attract-indian-investments\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Kenya fronts tax incentives to attract Indian investments\",\"datePublished\":\"2024-04-09T21:12:25+00:00\",\"dateModified\":\"2024-04-09T21:38:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-fronts-tax-incentives-to-attract-indian-investments\"},\"wordCount\":476,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-fronts-tax-incentives-to-attract-indian-investments#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/04\/sm_1712682326.560922.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-fronts-tax-incentives-to-attract-indian-investments#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-fronts-tax-incentives-to-attract-indian-investments\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kenya-fronts-tax-incentives-to-attract-indian-investments\",\"name\":\"Kenya fronts tax incentives to attract Indian investments - 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