Nii Martey M. Botchway
Accra, Feb 27, GNA – The India-Ghana Business Conclave (IGBC) has called for collaboration to boost trade and investment opportunities while strengthening bilateral ties between the two countries.
The call was made at an event organized by the Indian High Commission in collaboration with the Association of Ghana Industries (AGI), on the theme: “Strengthening Trade, Investments, and Economic Partnership”.
In his opening remarks, the Indian High Commissioner to Ghana, Mr. Manish Gupta, noted the importance of the India-Ghana partnership, highlighting the potential for growth and development in areas such as trade, investment, and technology.
He said India—Ghana bilateral ties were anchored in a rich history and shared values.
“To put it in perspective, India-Ghana bilateral trade is now around US$3 billion, with about US$2 billion in Foreign Direct Investment in over 900 projects, and another US$1 billion through concessional Lines of Credit”, he said.
He indicated that Ghana had been a preferred gateway for Indian investments in the West African sub-region, stating there had been strong interest from Indian investors since the beginning of the year.
He called for renewed partnerships, in pursuit of the opportunities, to promote economic prosperity and development in both countries.
The event brought together senior officials, business leaders, and diplomats from both countries to explore opportunities for trade, investment, and economic partnership.
The keynote address of Mrs. Elizabeth Ofosu-Adjare, the Minister of Trade, Agribusiness, and Industry (MoTAI), was delivered on her behalf by Dr. John–Hawkins Asiedu, Technical Advisor at the Ministry.
She said Ghana and India had enjoyed cordial diplomatic and economic relations that had transformed into a growing bilateral partnership and multifaceted cooperation over the years.
She said the relationship had provided both countries the opportunity to explore and deepen insights into common aspirations for economic growth.
“This is underpinned by economic linkages, opportunities and potential areas of cooperation,” she said.
Mrs. Ofosu-Adjare noted that the theme for the event, resonates with the vision of the President to reset Ghana’s economy, and that the Government was committed to intensifying economic diplomacy that transitions Ghana into a stable economy driven by a vibrant export trade, industrialization and foreign investment.
She invited Indian investors to join hands with Ghanaian businesses, as the government sought to reset the industrial landscape.
For his part, Dr. Humphrey Kwesi Ayim Darke, President of AGI, said the India-Ghana collaboration had yielded remarkable results that had benefited both businesses and consumers alike.
He noted, there were untapped potentials that could elevate the India-Ghana partnership to new heights, and urged businesses to rethink their strategies to align with emerging trends and deepen trade integration, expand investment opportunities, and foster industrial collaboration.
Dr. Darke called on private sector businesses to adapt to changing times, particularly in view of the government’s 24-hour economy initiative.
He said, while exploring new opportunities, it was important that business entities also strengthen existing relationships.
The IGBC is a platform aimed at exploring opportunities for Ghanaian and Indian businesses as parts of efforts to strengthen bilateral ties between India and Ghana.
GNA