India Turns to West Africa for Investments

India show flier
India Show flier

With the unfolding of the new economic global landscape and focusing on strengthening South-South co-operation, India, one of the world’s fastest growing economy is seeking investments from the 16-member Economic Community of West African States (ECOWAS).

According to the Indian High Commissioner to Ghana, H.E Mr. Rajinder Bhagat, West Africa with its strong economic fundamentals holds great promise for the future.

To this end, India is putting its best foot forward to showcase all that it has to offer to Africa, when the over 200 business leaders, accompanying Mr. Anand Sharma, Indian Minister of Commerce, Industry and Textiles, converge at Accra International Trade Fair, Ghana, for a three-day ‘India Show’, starting on July 9 to11, 2012.

The ‘India Show’, which will comprise exhibition and conferences, is being put up by the Federation of Indian Chamber of Commerce and Industry (FICCI), with the support of Ministries of Commerce and Industry and External Affairs.

The ‘India Show’ is being partnered by the ECOWAS and counterpart Chambers of Commerce and Industry across the West African sub-region, will rollout “Brand India” to West Africa, as many Indian businesses have pledged to take part in the trade fair.

Mr. Bhagat told journalists at a press conference in Accra yesterday, that the Chairman and Chief Executive Officer of the Sun Group, Vikramjit Singh Sahney, would led the FICCI business delegation, comprising representatives from sectors including agriculture, health, infrastructure, mining and minerals, ICT, construction, energy, pharmaceuticals and education.

Ghana was chosen to hold the ‘India Show’ because of its economic and political stability; rich natural resource base, a modern, vibrant and fast growing financial sector, and as gateway to the ECOWAS market of 240 million people, the Indian High Commissioner explained.

Highlighting the objectives of the ‘India Show’ to both parties, a representative of the ECOWAS Private Sector, Mr. Wilson Attah Krofah emphasized “The ‘India Show’ promises to be the perfect opportunity and platform for African businessmen and institutions who seek partnerships for trade, joint ventures, technology transfer and investments from their Indian counterparts”.

The key sections of the ‘India Show’, he mentioned, include business to business meetings, sectoral meetings of members of India-West Africa Business Partnership Forum, cultural extravaganza and Indian food festival.

The objectives of these events are among others, to create awareness about the best of Indian technologies and products, explore opportunities offered by the West African sub-region and to increase trade exports between India and West African countries, he indicated.

Touching on the benefits of the ‘India Show’, Mr. Attah Krofah emphasized that the show would give an opportunity to ECOWAS and Indian businesses to look at new business avenues in India and ECOWAS countries.