Prez Mukherjee pitches for private sector investment in Ghana

President Pranab Mukherjee on Monday made a strong pitch for Indian private sector investment in Ghana, saying economic cooperation between the two countries should move beyond Government funded projects.

Addressing the India-Ghana Business Forum meeting here, the President said India is one of the few countries where Small and Medium Enterprises thrive alongside large conglomerates, creating jobs and ensuring wealth distribution on one hand and infrastructure development, indigenisation and external business linkages, on the other.

“Indian entrepreneurs know that developing countries need to prioritise relevant and eco-friendly technologies that are in sync with the state of economic development of the country as well as its social needs,” he said.

Mukherjee, the first Indian President to visit the West African nation, said we have learned that calibrated foreign investments are the key to rapid growth in a developing nation.

“Indian businesses have learned adaptability and would be happy to share their experience with their Ghanian counterparts,” he said at the meet organised by the Confederation of Indian Industry and the Association of Ghana Industries and Ghana Chamber of Commerce and Industry.

The President said he was glad to note that the bilateral trade is in favour of Ghana. “However I would encourage the Ghanian entrepreneurs to diversify and expand their exports to India. During the third India-Africa Forum Summit in October last year in New Delhi, India earmarked $10 billion for diverse projects in Africa and capacity building efforts. Government of India looks forward to working with Ghana to identify projects for utilisation of these funds in Ghana,” he said. Lauding India's prowess in business, Mukherjee said: "Brand India is a trusted name today across the developing as well as the developed world." 

"It is trusted because it adds value to the resources of the host countries; it is welcomed because it works and grows together with the local companies; it brings appropriate technologies which create jobs and has the adaptability to absorb local talent; it rejuvenates and invigorates local industry without constraining their growth in any way," he said.