30th July, 2012
At least 34 Indian Businessmen have arrived Nigeria to foster greater synergy with their Nigerian counterparts in the chemicals, pharmaceuticals and cosmetics areas, the High Commission of India to Nigeria has said.
“The highpoint of their visit would be a Buyer-Seller Meet at on Tuesday, July 31, 2012 at Hotel de Renaissance, Ikeja, Lagos, which would be inaugurated by Indian High Commissioner to Nigeria, Mr. Mahesh Sachdev,” the Commission said in a statement.
This event is meant to provide a discussion platform for visiting Indian businessmen with their Nigerian counterparts. It was learnt that the Indian Chemical Business Delegation, which arrived on Sunday, would be in Nigeria until 1 August.
The delegation is led by Mr. Satish Wagh, the Chairman of Basic Chemicals, Pharmaceuticals and Cosmetics Export Promotion Council of India, CHEMEXCIL.
Indian chemical companies such as Indorama, Nagarjuna, Dabur, Godrej are already active in Nigeria and Nigeria spends hundreds of millions of dollars to buy Indian chemical products every year.
“According to official Indian bilateral trade data for year that ended on March 31 2012, Nigeria imported from India the following main items in this category: “Drugs, pharmaceuticals and fine chemicals” ($308 million), “Inorganic, Organic & Agro Chemicals” ($51 million), “Paints, etc” ($29 million), “Dyes, etc” ($16 million) and “Residual Chemicals & Allied Products” ($12 million),” the statement said.