Ghana looking at India as its industrial development partner

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SME Times News Bureau | 15 May, 2018
Ghana is looking at India as its "partner" for the industrial development in the African country and is expecting the bilateral-trade between the two countries to cross US $4 billion by this year, an envoy said here on Monday.

"Bilateral trade between Indian and Ghana was between US $3-4 billion dollar in the past year and it is expected to cross US $4 billion this year," said Michael A.N.N. Oquaye Jnr., the High Commissioner of Ghana in India.

"We are not just working with India but we are looking to partner India in terms of achieving out one-district-one-factory programme," he said on the sidelines of an interactive session organised at MCCI here.

The African country is also seeking more financial assistance from India so that companies from India get more support for participating in its one-district-one-factory programme, the envoy said.

"China has put up a fund and people (Chinese companies) are tapping this fund to set up their base. Indian are coming in but at a smaller rate than the Chinese. We want India to come in a big way," the diplomat said.

According to industries, gold accounts for a majority of India's imports from Ghana.

Asked whether there was a dip in imports of gold from India after the unearthing of multi-dollar scam in the Punjab National Bank, he said: "Most of our gold is traded by Dubai and Indians buy from there. We do not have any problems and do not have any dip (in our gold exports)."

The African country intends to imports skills from India to develop Information and Communication Technology (ICT). There are many Indian institutes to develop resources in Ghana and many Ghanians are coming to India to be trained in ICT, he said.

"We are going to cretate industrial parks in Ghana and the first we are going to create in collaboration with India is a pharma park," he said.