A THREE-DAY trade fair opened in Accra yesterday to showcase Indian businesses and products to the local market.
The exposition is part of efforts by the Indian government to deepen and diversify its engagement with Ghana and the rest of Africa.
The fair, put together by the Economic Community of West African States (ECOWAS) and the Federation of Indian Chambers of Commerce and Industry (FICCI), with the support of the Indian government, is on the theme: “The India show: Land of limitless opportunities”.
One hundred exhibitors have displayed items from sectors such as agriculture and allied activities, the services sector, including health, Information Technology (IT), telecom and financial services.
Manufacturing inputs in the areas of mining and minerals, energy, infrastructure, construction, consumer durables, pharmaceuticals, science and technology, textiles and education are also on display.
Over 200 business leaders who accompanied India’s Minister for Commerce, Industry and Textiles, Mr Anand Sharma, are expected to engage in business discussions with Ghanaian and West African business representatives who are participating in the fair.
According to Mr Sharma, although the West African sub-region was noted for small and medium-scale enterprises, trade volumes between the sub-region and India over the past years rose to about $20 billion.
He charged ECOWAS industries and stakeholder bodies to endeavour to increase investment to $40 billion by 2015.
“India will continue to share its technology to address developmental challenges in Africa, since the technology is best suited for the region in the common quest of Africa’s development,” he said.
He indicated the Indian government’s intention to situate the African Institute of Technology in the country to further aide technological advancement.
The Minister of Trade and Industry, Ms Hannah Tetteh, said the large number of business people participating in the programme was a clear demonstration of the Indian government’s vote of confidence in Ghana’s democratic credentials, in spite of Ghana’s general election in December this year.
She said India’s continued partnership had resulted in significant development in all spheres across the country.
The minister said Ghana’s gross domestic product (GDP) growth of 14 per cent recorded in 2011 was a clear indication that the years ahead would be rewarding and profitable.
While luring the business delegation to explore all available investment opportunities that had the tendency to grow beyond mutual cooperation to profitability, Ms Tetteh expressed the hope that India’s engagement with the West African sub-region and beyond would be reciprocal.
The leader of the delegation, Mr Vikramjit Singh Sahney, in his address, indicated that the recent growth rate in Africa should be a test case for the continent to scale up its activities in the global market.
"With the unfolding of the new economic global landscape focusing on strengthening South-South synergies, West Africa, with its strong economic fundamentals, holds great promise for the future,” he said.
He said South-South cooperation held the key to unlock the potential and create better opportunities for Africa.
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