Accra, Dec. 11, – Bilateral trade between Ghana and India reached about three billion United States dollars in 2024 and is projected to double within the next five years, Mr Shiri Manish Gupta, India’s High Commissioner to Ghana, has said.
Addressing participants at the India–Ghana Business Conclave in Accra on Thursday, Mr Gupta noted that the target could be achieved ahead of schedule, as trade volumes had already surpassed the three-billion-dollar mark by the first half of 2025.
Touching on prospects for future cooperation, the High Commissioner reaffirmed India’s commitment to supporting Ghana and other African countries to take full advantage of the African Continental Free Trade Area (AfCFTA), particularly in renewable energy, green industrialisation, agriculture and food security.
He said India was ready to collaborate with the Government of Ghana to advance the “Reset Ghana” agenda, which focuses on restoring macroeconomic stability, creating jobs through a 24-hour economy, and delivering strategic infrastructure under the “Big Push” initiative.
Mr Gupta explained that India’s development cooperation model was demand-driven and centred on building local capacity and creating sustainable opportunities.
“Our approach is not merely to invest but to empower. Together, we move forward in an atmosphere of trust and partnership,” he stated.
He described the newly commissioned Tema–Mpakadan Railway line as the largest Indian-supported development cooperation project in Ghana, adding that there was room for further collaboration as economic ties between the two countries deepened.
According to him, Indian investments in Ghana over the past two decades included nearly two billion dollars in foreign direct investment across more than 900 projects, as well as about one billion dollars in concessional lines of credit and buyers’ credit at the intergovernmental level, positioning India as a key economic partner.
The High Commissioner encouraged businesses from both countries to explore new growth opportunities in sectors such as agriculture, food processing, skills development, mining and infrastructure.
He also pointed to some constraints to business growth, calling for the creation of cost-effective logistics systems and a reduction in banking and financial transaction costs.
Mr Gupta stressed the need to de-risk investments, provide effective investor support and lower entry barriers for prospective investors, while expanding banking channels and access to finance.
He said such measures were critical to unlocking the potential of the youthful populations in India and Africa and promoting digital and green markets.
He further proposed that India’s Digital Public Infrastructure model could be adapted to enhance governance, transparency and inclusion in Ghana and the wider sub-region.
“Ghana stands at a pivotal moment in the services sector, with the capacity not only to serve its domestic market but also to emerge as a regional hub,” Mr Gupta said, adding that India was prepared to support this ambition through skills development, technology transfer and knowledge sharing.
He also commended Indian businesses for their significant contributions to Ghana’s economic growth.
The business conclave served as a forum for open dialogue, identifying new areas of collaboration, strengthening trade and investment ties, and discussing challenges facing businesses.
Mr Augustus Goosie Tannoh, Presidential Advisor for the 24-Hour Economy and Accelerated Export Development, praised Ghanaian and Indian companies for their role in promoting local manufacturing, job creation and the expansion of the services sector.
He said the 24-Hour Economy programme had already secured land, basic infrastructure and project designs for investor parks nationwide.
Mr Tannoh cited the Volta Economic Corridor as a major logistics and industrial development initiative and urged Indian companies to explore opportunities in production facilities, contract manufacturing and logistics projects.
Mr Stephane Miezan, President of the Ghana National Chamber of Commerce and Industry (GNCCI), reaffirmed the Chamber’s commitment to supporting both local and international businesses.
The forum brought together representatives of leading Indian firms, with panellists sharing ideas to stimulate growth and improve the overall business environment.
GHBUSS
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