By Henry Uche, Lagos
The Regional Director of Indian Chamber of Commerce (ICC) Debmalya Banerjee, has affirmed that over 135 Indian companies operating in Nigeria have invested about $19bn in the country and are ready to do more despite the threat of global pandemic.
Speaking at the inauguration of Hybrid retail sourcing fair -West Africa, Exhibition recently in Lagos, the regional director revealed that its Chamber of commerce signed an Memorandum of Understanding (MoU) with the Lagos Chamber of Commerce & Industry (LCCI) to boost trade and industry, even as the country, China and Turkey are currently in Nigeria to invest and explore the leather & Textiles, Food & Beverage, Automotive, Pharmaceuticals, Agriculture, Electronics, Beauty & Cosmetics and homes sectors, with about 40 manufacturers, suppliers and distributors.
According to him, the MoU was apt for both countries to share knowledge and do business together if the Nigeria government would do its bid to facilitate businesses as more Indian companies are ready to explore diverse Markets in Nigeria.
“We invested in $19bn in Nigeria and we are willing to do more. This MoU would create more Jobs and expand frontiers as well open more opportunities, we expect the government at federal and State level to strive to do the needful for businesses to thrive,” he affirmed.
On her part, the Managing Director, Leoht African, Bunmi Aliyu, said the goal of the Source Textile & Apparel and Retail Sourcing Fair West Africa Exhibitions, was to build an annual and sustainable international sourcing platform for organizations to trade and secure orders from corporate buyers and resellers.
Aliyu implored government and participants to tap from the foreign countries Technical- know -how without hesitation, and tackle anything that poses threat to investors. “This exhibition is a way forward, we are optimistic about its returns. The collaboration is much needed at this time,”
“As researched by the Global Retail Development Index, Nigeria is the leading retail market in Africa with $295bn of retail sales recorded in 2020. We focus solely on showcasing the best textile, home and gift products and brands to local buyers. The concentration of professional visitors from this targeted sector ensures that everyone you meet at the exhibition will be a useful connection,” she stressed.
She added that exhibitors comprised 116 Suppliers and manufacturers of Textile, Apparel Home and Gift. 22 companies from India, 16 companies from Turkey, 66 Companies from China, and 10 of The best of Made in Nigeria.
Declaring the exhibition open, the Lagos State governor, Babajide Sanwo-Olu, represented by the assistant Director (public affairs) Sanusi Abdulateef Olajide, charged exhibitors and investors to trade and invest in the new world created by the pandemic and not for the pre-pandemic version of the world.
According to him, these include exploring ways of ramping up the use emerging technologies to improve trade and business environment, and to maximize the benefits of global trade. He Urged them to explore each country’s cultures as they showcase different offerings. “The doors are open, we shall do our bids for mutual business relationship,” he said.