Kochi, India – 23.01.2025: The India-Africa Trade Council successfully hosted the India-Sierra Leone Trade Conference in Kochi, bringing together key stakeholders from the South Indian business community. The event marked a significant step in advancing bilateral trade relations and fostering new economic opportunities between the two nations.
Dr. Asif Iqbal, President of the Indian Economic Trade Organization, extended a warm welcome to H.E. Rashid Sesay, High Commissioner of Sierra Leone to India, who was accompanied by a diplomatic delegation, including the Information Attaché from the Embassy of Sierra Leone in Abu Dhabi. Addressing the gathering, the High Commissioner emphasized Sierra Leone’s potential as a strategic trade partner, highlighting key sectors such as pharmaceuticals, IT development, and industrial growth. He acknowledged the enduring friendship between India and Sierra Leone and expressed appreciation for India’s continued support in Sierra Leone’s development journey, stressing the mutual benefits of strengthening economic cooperation. Speaking at the conference, Dr. Asif Iqbal remarked, “This trade conference is a significant step in realizing the untapped potential of economic collaboration between India and Sierra Leone. We believe this partnership will lead to new opportunities 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.”
The conference underscored India’s expanding role in Sierra Leone’s economy. In the fiscal year 2019-20, bilateral trade reached US$139.86 million, marking a 12.80% growth, with India ranking among Sierra Leone’s top five trading partners. India’s key exports to Sierra Leone include pharmaceuticals, plastics, non-basmati rice, and industrial machinery, while imports from Sierra Leone, such as ferrous waste, wood pulp, and titanium ores, witnessed a 108.86% increase over the previous year.
Beyond trade, India’s development cooperation with Sierra Leone has seen notable progress. India extended $45 million in funding for irrigation and potable water projects and provided a $32 million Line of Credit (LOC) for the establishment of the University of Science & Technology in Kono District. Memorandums of Understanding (MoUs) were signed during the conference, facilitating investments in education, infrastructure, and the pharmaceutical sector. Several distinguished personalities participated in the conference, contributing valuable insights on global trade and economic cooperation. The event saw the presence of Dr. Krishnadas, Chairman of Nehru Group of Institutions & Hon. Trade Commissioner – Mauritius, Dr. A. Madhavan, CEO of Malabar Innovation Entrepreneurship Zone and 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, Bency George, Director, Corporate Relations, IETO.
