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24/10/2020 12:50pm

Indian MSMEs may use Ghana as gateway to Africa

image Indian MSMEs may use Ghana as gateway to Africa

New Delhi, Oct 24 (KNN) To enhance India-Ghana bilateral trade and investment opportunities, World Trade Center Mumbai and World Trade Center Accra has jointly organised India-Ghana Trade & Investment Opportunities Virtual Summit'.

Indian MSMEs can take advantage of opportunities in rural development, agriculture technologies, agriculture cultivation, irrigation, agro-processing, sanitation and renewable energy projects in Ghana, H.E. Sugandh Rajaram, High Commissioner, The High Commission of India in Ghana said while addressing the summit.

"The Republic of Ghana is the headquarter of the African Continental Free Trade Area (AfCFTA) and can serve as a gateway to the 1.2 billion-strong African population having a combined GDP of USD 3.4 trillion", said H.E. Dr. Michael Aaron N. N. Oquaye Esq (Jnr), High Commissioner, The High Commission of the Republic of Ghana in India at the summit.

He remarked that India is one of the largest foreign investors in Ghana in terms of projects registered as well FDI inflows. Bilateral trade has also jumped 48% over the last two years. India can help Ghana become a manufacturing hub and explore its linkages with the African market.

He said that the World Bank's Ease of Doing Business report 2019 remarked Ghana as the best place for doing business in West Africa. Indian companies can explore investment opportunities in sectors such as gold, bauxite and iron ore mining, agro-processing, healthcare and other sectors.

T.V Ganesan, Second Secretary, High Commission of India in Ghana remarked that India is among the top three exporters of textile products to Ghana. Further, Indian companies can supply raw materials and transfer knowledge to Ghana businesses in the pharmaceutical sector. The Tree Crop Development Authority has been recently established in Ghana.

Vijay Kalantri, Vice Chairman, World Trade Center Mumbai highlighted that WTC Mumbai is launching a Virtual Trade and Exhibition Platform, worldtradeexpo.org, and invites companies in Ghana to participate in its month-long Handloom Festival.

The inaugural session was followed by simultaneous Breakout sessions comprising discussions among representatives from the Textile, Pharmaceutical, Agro-Processing, Health care & Health IT, Mining & Mineral Exploration, Petroleum and Chemical sectors.   

The event was attended by representatives from trade and industry, consular corps, academicians, MSMEs and students.

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