NICCI Upbeat Despite Harsh Business Terrain, Inducts New Members

Gilbert Ekugbe

The Nigerian-Indian Chamber of Commerce and Industry (NICCI) has expressed optimism about the Nigerian investment climate and business community amid the harsh operating business environment.
At an induction ceremony organised by NICCI to induct 16 new members, the Chairman, NICCI, Dr. Uduimo Itsueli, explained that the induction ceremony was a clear demonstration of its commitment to Nigerian economy.
Itsueli while delivering his opening remarks, urged the newly inducted members to adhere strictly to global best practices in their bids to deliver improved service delivery to their clients
He, however, expressed his heartfelt welcome to the new members and participants at the event, while also expressed gratitude towards the synergy of both countries.
Also speaking, the Consulate General of India Mr. Chandramouli Kern, stated that the trade between Nigeria and India is huge with lots of investment opportunities yet to be explored.
He added that Nigeria and India have continued to forge strong bilateral trade relationship, maintaining that Nigeria is the largest trading partner with India.
“Nigeria and India have a very strong relationship even before Nigeria’s independence. We have a great synergy with Nigeria’s economy. We consider Nigeria as our best friend in Africa and as far as economic relationship is concerned, we are very strong with Nigeria. Nigeria is the largest trading partner with India as Nigeria has also been Indian’s export destination,” he stated.

The keynote speaker and founder, Nairametrics, Mr. Ugodre Obi-Chukwu, delivering his presentation tagged “Nigeria’s macroeconomic outlook, challenges and opportunities post 2023”, said Nigeria’s Gross Domestic Product (GDP) growth rate is projectes to hit 3.25 per cent, saying the growth rate is still a lot better than some other African countries.

He stated that inflation rate is likely to go in an upward trend, pointing out that economic indicators are not looking good, but anticipates a positive growth outlook for the country.
Highlighting key economic challenges in 2023, Obi-Chukwu, stated Nigeria would experience a high inflationary environment, predicting that prices of products would also surge in the second half of the year

The event proved to be a huge success bringing together a passionate community of professionals from different sectors of the economic system.

A Director of the Chamber, Otunba Pradeep Pahalwani, called on the Consulate General of India, Mr. Chandramouli Kern and the Chairman of NICCI, Dr. Uduimo Itsueli to give a brief talk.

Followed by the presentation of the sponsor Mr. Sunil Gurbaxani of Solidarity Investment, spoke in detail on investment in India and wooed potential local and foreign investors to take advantage of investment opportunities in India

New members were presented with their certificate and inducted into the bilateral community
The event reached its culmination with closing remarks from the executive secretary of NICCI, Ms. Oghenero Okorodudu, who expressed profound gratitude and spoke on the benefits of being a member of the Chamber and the goal of the Chamber.

Attendees moved out to the lawn of the consulate to enjoy food, drinks, and music whilst networking and making meaningful business connections.