India and Ghana Elevate Bilateral Ties to Comprehensive Partnership

Strategic Insights -

Prime Minister Narendra Modi and Ghanaian President John Dramani Mahama signed four memorandums of understanding to enhance cooperation in defence, food security, pharmaceuticals, and cultural exchanges during Modi's visit to Accra, marking India's first premier visit to Ghana in three decades. The two leaders vowed to double trade over the next five years, with India aiming to invest $2 billion in 900 projects across Ghana.

Key Takeaways:

  • India and Ghana target to double trade over the next five years, with the current two-way trade reaching $3.1 billion in FY 2024-25.
  • The two countries signed four memorandums of understanding (MoUs), including one on creating a permanent Joint Commission for high-level dialogue and review of bilateral cooperation.
  • India and Ghana agreed to enhance cooperation in defence, including training of armed forces, maritime security, and cyber security.
  • The two leaders discussed plans to accelerate cooperation in food security, with India supporting Ghana's "Feed Ghana" programme and Ghana seeking support in vaccine production.
  • India offered to share expertise on the Unified Payment Interface (UPI) digital payments system with Ghana and to provide affordable healthcare through Jan Aushadhi Kendras.

Statistics:

  • Two-way trade between India and Ghana reached $3.1 billion in FY 2024-25.
  • India exported $1.34 billion worth of goods to Ghana in FY 2024-25.
  • India has invested $16.08 million in Ghana through 11 projects between January and September 2024, ranking second in number of projects and fifth in FDI value.
  • Ghana is home to an Indian community of more than 15,000, with many having acquired Ghanaian citizenship.

Sources:

  • Hindustan Times
  • The Economic Times