Deepening economic relationship with Indian businesses will boost trade investment – President GATAC

President of the Global Africa Trade advisory chamber, GATAC, Dr Dominic Oduro Antwi

The president of the Global Africa Trade advisory chamber, GATAC, Dr. Dominic Oduro Antwi has commend  Indian business operating in the country for their tremendous strides to increase productivity at private sector to support the growth of Ghana’s economy.

In a remarkable display of unwavering dedication to excellence and innovation the president of GATAC has  commended Ghana’s steel manufacturing company B5 Plus for their outstanding  position at the esteemed 20th Ghana Club 100 Award ceremony.

“This recognition not only underscores the company’s exceptional performance but also reaffirms its pivotal role in driving ghana economic expansion on the world stage,” said Dr. Dominic Oduru Antwi .

In the same vein the president praised M&G Pharmaceutical Limited for emerging 51st at the 2023 Ghana Club 100 Awards. The company took the 51st position and led the pack in the pharmaceutical industry in the country. M&G was awarded for its growth, size, profitability and contributions to community development in the health sector.

“Ghana is the leading destination for foreign direct investment in Africa. Ghana has a number of big advantages over other countries in the region in terms of geography, institutions and human capital and private companies must capitalize on this opportunities,” said the president of GATAC.

“Ghanaian entrepreneurs, private capital & International investments can bridge the gap and can be a game changer to uplift the economy of Ghana,” he added.

Indian businesses prospect in Ghana 

India is among the top investors in Ghana. Indian investments spread across diverse sectors such as pharmaceuticals, construction, manufacturing, trading, agro-processing, etc. In 2021, India was the 2nd largest investors by number of projects with 25 projects after China and the 3rd by value of FDIs aggregating to US$ 98.84 million after Singapore and Australia India’s FDIs constituted 7.61 percent of Ghana’s total FDIs of US$ 1,298.66 million in 271 projects in 2021.

The future of Indian business in Ghana 

Indian companies can explore investment opportunities in sectors such as electronics, mobile, ICT, agro-processing, food processing, gold-bauxite-iron mining, healthcare, entertainment-films, among others. Indian companies can supply raw materials and impart knowledge to Ghana businesses in these sector. Indian companies can also set up value-addition plants in Ghana.

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