Trade between Ghana and India has reached an impressive $3 billion with Ghana maintaining a favourable balance, Foreign Affairs Minister Samuel Okudzeto Ablakwa, disclosed on Monday ahead of the historic state visit of Indian Prime Minister Mr Shri Narendra Modi.
In addition to the strong trade performance, Mr Ablakwa highlighted India’s longstanding role as a trusted development partner, having extended to Ghana lines of credit exceeding US$450 million over the past two decades.
These credit facilities, he said, had supported numerous transformative projects across sectors such as energy, agriculture, ICT, transport, and education, a testament to the depth of India-Ghana economic cooperation.
Mr Ablakwa, speaking at a press brifing in Accra, said the visit is expected to further deepen economic ties, boost trade volumes, and consolidate Ghana’s position as a hub for India’s development cooperation in West Africa.
He noted that India remained one of Ghana’s most trusted and strategic development partners with decades of cooperation yielding high-impact projects across key sectors, including agriculture, energy, health, ICT, education, and transport infrastructure.
India and Ghana share a long-standing history of friendship and cooperation, dating back to the early days of Ghana’s independence. India opened a consulate in Accra in 1953, even before formal diplomatic relations were established in 1957.
Over the years, both countries have built on the foundation laid by their founding leaders, Dr Kwame Nkrumah and Jawaharlal Nehru, through political solidarity, trade and investment, and South-South cooperation.
“Ghana’s trade with India currently stands at about $3 billion. What’s refreshing is that Ghana enjoys a trade surplus with India, largely driven by our gold exports,” Mr Ablakwa stated.
India remains one of the largest importers of Ghanaian gold, and the sector continues to drive bilateral trade.
Credit: businessghana