On his four-nation tour to Africa, Indian Prime Minister Narendra Modi extended a US $ 45 million credit line to Kenya via India’s Export Import Bank (Exim Bank) to revive The Rift Valley Textile Industry (RIVATEX) and other smaller industries. At a press conference with Kenyan President Uhuru Kenyatta, Modi stated that India is Kenya’s largest trading partner and the second largest investor in the country and there is a potential to achieve much more.
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In total, Indian and Kenya inked seven agreements on Defence Cooperation, Cooperation in the field of National Housing Policy Development and Management, agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes, MoU between Bureau of Indian Standards and Kenya Bureau of Standards, Agreement on Exemption of Visa for holders of Diplomatic Passports, Line of Credit Agreement for US $ 15 million to IDB Capital Limited, for development of small and medium enterprises and the Line of Credit Agreement for US $ 30 million (29.95 million to be exact) to Kenya for the elevation of RIVATEX.
Rift Valley Textiles Factory went out of business in 2000 as mismanagement of the cotton sector led to Kenyan production to collapse. Kenyatta further indicated towards the strong ties between the two countries in other areas as well in the future.
Bharat Tex Special Report 2026 
