India’s high commissioner to Ghana, Sugandh Rajaram, has said that there is a bright future for India-Ghana business relations.
Speaking with Nana Yaa Mensah on the Sunday Night programme, Rajaram said, “If you see how strongly the Indian economy is showing resilience, you can easily gauge that there is bright future for India-Ghana business relations.
“Just before the COVID, we had bilateral trade of US$4.5 billion and had put a target of crossing the $5 billion mark by 2020, which was not possible because of the COVID.
“During the COVID times bilateral trade was halved to almost $2.3 billion, but if you look at this year it increased by 15% to about $2.7 billion.”
He said the COVID pandemic has affected Ghana’s export to India with a pre-COVID export of $3.8 billion to about $1.5 billion but India’s exports increased. He added that: “Even during the COVID time, when the global supply chains were disrupted, the Ghanaian market was supplied with Indian products and we increased our exports to Ghana by almost 30% during the COVID time from $800 million to $1.2 billion.”
Rajaram added that India is the fastest-growing economy in the world and in “this kind of economic recovery [it] will be a strength for Indian businesses to partner with Ghanaian businesses in the post-pandemic situation to see that our engagement with Ghana also recovers with the same speed”.
India is one of the largest investors by nation in Ghana, with Indian companies investing over US$1.7 billion in Ghana over 730 projects across sectors, including agro-processing, construction, manufacturing, pharmaceuticals, services and tourism.
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