India-Sierra Leone Trade Ties: Strategic Partnership Opportunities in Pharmaceuticals, IT, and Industrial Development Explored

C. Krishna Shankar Appointed Honorary Trade Commissioner

KOCHI, India, Jan. 28, 2025 /PRNewswire/ -- The India-Africa Trade Council, in partnership with the Indian Economic Trade Organization (IETO), organized the India-Sierra Leone Trade Conference in Kochi, underscoring Sierra Leone's potential as a key trade partner for India. The conference emphasized investment opportunities in pharmaceuticals, IT, and industrial development, setting the stage for strengthened bilateral economic ties.

The conference witnessed the esteemed presence of H.E. Dr. Rashid Sesay, High Commissioner of Sierra Leone to India, accompanied by a diplomatic delegation, including the Information Attaché from the Embassy of Sierra Leone in Abu Dhabi. In his address, Dr. Sesay outlined Sierra Leone's investment-friendly policies and rich resources, emphasizing opportunities for Indian businesses. He expressed gratitude for India's continued support and called for deeper collaboration to unlock the full potential of economic cooperation between the two nations.

Dr. Asif Iqbal, President of IETO, stated, "The India-Sierra Leone Trade Conference marks a significant milestone in realizing the vast economic opportunities that lie ahead. We are optimistic that this collaboration will drive meaningful growth for businesses in both countries."

During the event, C. Krishna Shankar, Chairman and Managing Director of Finovest Group, was officially appointed as the Trade Commissioner for Sierra Leone to India. In his acceptance speech, Shankar commented, "Strengthening the trade ties between India and Sierra Leone would be the primary focus. Our upcoming business delegation from Kerala and Chennai in May 2025 will focus on exploring key sectors like mining, tourism, poultry, pharmaceuticals, and infrastructure development. This visit is a pivotal opportunity to unlock new investment avenues, foster partnerships in agriculture and healthcare, and pave the way for deeper economic engagement between our two regions."

India's role in Sierra Leone's economic landscape was further highlighted, with trade figures indicating a steady rise. In the fiscal year 2019-20, bilateral trade reached US$139.86 million, registering a 12.80% growth, with India emerging as one of Sierra Leone's top five trading partners. India's primary exports to Sierra Leone include pharmaceuticals, plastics, non-basmati rice, and industrial machinery, while imports such as ferrous waste, wood pulp, and titanium ores experienced a remarkable 108.86% increase over the previous year.

Beyond trade, India's development cooperation with Sierra Leone continues to thrive, with initiatives such as a $45 million investment in irrigation and potable water projects and a $32 million Line of Credit (LOC) for establishing the University of Science & Technology in Kono District. The conference also saw the signing of Memorandums of Understanding (MoUs) aimed at facilitating investments in education, infrastructure, and the pharmaceutical sector.

The event brought together several distinguished dignitaries and business leaders, including Dr. Krishnadas, Chairman of Nehru Group of Institutions & Hon. Trade Commissioner - Mauritius; Dr. A. Madhavan, CEO of Malabar Innovation Entrepreneurship Zone & Former Advisor to the Ministry of Health and Family Welfare, Government of India; Varkey Peter, Trade Commissioner, India ASEAN Trade Council; and Mr. Dawood Sait, Hon. Trade Commissioner, Grenada, India Commonwealth Trade Council.

To know more about the Indian Economic Trade Organisation (IETO), visit: https://ieto.online/

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