Trade Between India-Ghana Hits $818M Mark.

The Indian High Commissioner to Ghana, H.E Rajinder Bhagat has disclosed that statistics showed that India’s imports from Ghana in 2010-11 recorded $159.75 million, while exports to Ghana stood at $658.35 million. This brings the total trade to $818.10 million which indicates a growth of 52.2%.

Mr. Bhagat made this known at the High Commission’s business interaction with some captains of Ghanaian industry, and some government officials in Accra, this morning.

The objective of business interaction is to expand the business activities to sectors which need more investment to help Ghana reach her desired goals.

India’s exports to Ghana consist mainly of drugs and pharmaceuticals, machinery, plastics, electronics, among others. Imports from Ghana include edible fruits and nuts, wood and wood products, precious and semi precious stones, he told the investors.

The High Commissioner noted that, “there has been an increased interest by Indian companies in Ghana during the past years as a number of business delegations have been visiting to explore market and to look for public, private partnership with Ghana”.

According to Ghana Investment Promotion Centre (GIPC) in 2011 foreign direct investment data, India stood second in terms of numbers of projects (76) registered.

Ghana’s growing profile as an emerging economy and recent commencement of oil exploration in commercial quantity provides an opportunity to the Indian businessmen to explore Ghana.

India is one of the major trading partners of Ghana. There are well established Indian businesses in Ghana who are engaged in manufacturing, retail, banking, telecom, ICT, among others.

Recently, Ghana Heavy Equipment Limited (GHEL), a state-owned company has tied up with BEML Limited, a Government of Indian firm under which BEML Ltd would be supplying heavy machines to GHEL for sale on the Ghanaian market.

The Minister of Trade and Industry, Ms Hannah Tetteh was delighted to say that: “India-Ghana business relationship is good and cordial one”.

She added that India companies operating in Ghana are contributing a lot to the socio-economic development of the West African country.

On his part, the President of the Ghana Chamber of Commerce and Industry, Mr. Seth Adjei Baah stressed that Ghana is opened for business and appealed to the Indian investors to invest more in the country.

Source : spyghana.com