Ghana-India Trade Hits $3 Billion as Modi’s State Visit Aims to Deepen Economic Ties
Ghana’s trade with India has reached $3 billion, with Ghana maintaining a favourable trade surplus largely driven by gold exports, Foreign Affairs Minister Samuel Okudzeto Ablakwa disclosed on Monday ahead of the official state visit of Indian Prime Minister Shri Narendra Modi.
Addressing the media in Accra, Mr. Ablakwa underscored India’s position as one of Ghana’s most strategic and consistent development partners, noting that New Delhi has extended over $450 million in lines of credit to Ghana in the past two decades.
“These are not just symbolic projects. They have transformed lives and communities across Ghana. India has proven over the years to be a genuine development partner with unmatched reliability,” he stated.
The lines of credit, he explained, have financed transformative projects across key sectors including energy, agriculture, transport, ICT, health, and education. Flagship projects cited include the Kofi Annan ICT Centre of Excellence, the Komenda Sugar Factory, the Elmina Fish Processing Plant, and the Tema-Mpakadan Railway Line, which is central to Ghana’s regional integration ambitions.
Mr. Ablakwa added that India had also funded the Tamale-Wa Road, an agricultural machinery assembly facility, the Rural Electrification Project, and the establishment of the Foreign Service Institute—West Africa’s first diplomatic training centre.
Trade volumes between Ghana and India had peaked at $4.5 billion before the COVID-19 pandemic, but the Minister expressed optimism that renewed diplomatic and commercial engagements would drive volumes higher.
India remains one of the largest importers of Ghanaian gold, a key contributor to Ghana’s trade surplus with the South Asian nation. However, Mr. Ablakwa emphasised that bilateral ties have evolved beyond commodity exports to a comprehensive development partnership incorporating grants, credit lines, technical assistance, and capacity building.
The state visit by Prime Minister Modi—his first to Ghana—is expected to deepen economic and diplomatic cooperation. President John Dramani Mahama will officially receive the Indian leader at the Jubilee Presidential Lounge in a ceremony marked by full military honours.
The two leaders will hold a closed-door meeting followed by expanded bilateral discussions covering trade, agriculture, vaccine manufacturing, defence, standardisation, cultural exchange, and traditional medicine. Several Memoranda of Understanding (MoUs) are expected to be signed, including agreements between the Ghana Standards Authority and the Bureau of Indian Standards.
To mark the occasion, President Mahama will confer Ghana’s highest national honour—the Companion of the Order of the Star of Ghana—on Prime Minister Modi in recognition of his efforts in strengthening bilateral relations.
On Thursday, July 3, Prime Minister Modi will meet with members of the Indian community in Ghana, visit the Kwame Nkrumah Memorial Park, and address Ghana’s Parliament.
Minister Ablakwa expressed confidence that the visit would unlock new areas of cooperation and further consolidate Ghana’s role as a hub for India’s development diplomacy in West Africa.
