A great deal of attention has been paid to the role of the US, the largest investor in land in the world, China and Middle Eastern countries. Much less attention has been given to the role of India. A global land monitoring initiative, Land Matrix, ranks India as one of the top 10 investors in land abroad. It is the biggest investor in land in Ethiopia, with Indian companies accounting for almost 70% the land acquired by foreigners after 2008.
Indian land deals in Ethiopia are the result of the strong convergence in the two countries’ domestic political-economic policies. Both advocate the privatisation of public assets and increasing reliance on free trade and open markets.
India’s investment in land has been driven by the need to obviate the effects of spiralling food prices by outsourcing food supply. Ethiopia’s decisions are driven by its development policy based on commercialisation of agriculture and reliance on foreign investments.
Rough estimates suggest Indian firms have acquired roughly 600 000 hectares of land in Ethiopia. This is more than ten times the size of land acquired by firms in India under the country’s special economic zones policy. India is followed closely by Saudi Arabian firms, with 500 000 hectares of land, in Ethiopia.
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