The government of India has pledged to increase economic cooperation with Ghana, and other countries in West Africa, making a commitment to transform the living standards of over 300 million people in the sub-region.
“India will always be, as a friend and partner, to share our experience, expertise and resources to support African nations in whatever manner they want,” the Indian High Commissioner to Ghana, Mr Birender Singh Yadav assured.
The Indian Envoy made this commitment on behalf of his government at the first Indian Council of World Affairs (ICWA) conference held in Accra yesterday.
The two-day conference was on the theme: “India-West Africa Partnership: Enhancing Security, Development and Growth.”
Mr Yadav referred to the Indian Prime Minister’s view that the world’s largest democracy is one which favours the needs of many over the want of one, and prefers partnerships over polarization.
“We hold the belief that the success of one must propel the growth of many,” he quoted the Prime Minister as saying.
An India-Africa partnership is highly important, as approximately 40% of India’s trade with entire African continent is with the countries of West Africa and to the tune of US$72billion.
The Indian High Commissioner disclosed that the trade between India was increasing phenomenally, adding “trade has almost doubled in the last five years.”
Bilateral trade relations between India and Ghana have seen consistent growth over the years, with trade in 2016 crossing US$3billion in favour of Ghana.
“India is among the top investors in Ghana with over US$1billion in private foreign direct investments by Indian companies and people of Indian origin,” Mr Yadav noted.
Mr Yadav further disclosed that his country was also helping Ghana to rehabilitate its rail network and had lent a buyer’s credit for the construction of the Tema-Akosombo railway line.
He was confident that the project, when completed, would strengthen and improve freight movement as well as connectivity of landlocked countries with the port.
The Indian envoy was pleased to state that Ghana was one of the countries that had been represented with high level participation in the CII Exim Bank Conclaves and in the trade fairs and exhibitions held in India.
The Conclave was instrumental in building partnerships and enhancing the economic engagement between the two regions.
Also at the Conference, Ghana’s Ministerial Nominee for Foreign Affairs and Regional Integration, Ms Shirley Ayorkor Botchway, stressed the importance of safeguarding security within the sub-region.
According to her, “there is an intrinsic link between security and development as there can be no development without security.”
This is because lack of security inhibits investor confidence and consequently derails economic growth and development.
The Finder