Recently, the India-Ghana Joint Trade Committee meeting was held on 2nd & 3rd May, 2024. This spotlight of the discussion was Renewable Energy. The conversations were co- chaired by Ghana’s Deputy Minister of Trade and Industry, “Michael Okyere – Baafi” and India’s additional Secretary, Department of Commerce, “Shri Amardeep Singh Bhatia”. The committee mentioned the significance of bilateral relations of renewable energy and other key areas as well.
In this meeting the committee discussed merging India’s Unified Payment (UPI) with Ghana’s payment infrastructure in the coming 6 months. After this the transactions between both countries will be much easier. This will not only reduce the costs of businesses but also the worry about converting the currencies for every transaction will vanish.
The discussion also mentioned the African Continental Free Trade Agreement (AfCFTA) which offered countries to increase trade in their respective nations.
Though renewable energy had a major focus, some sectors were also covered which included pharmaceuticals, healthcare, ICT, agriculture and food processing, energy, digital economy and infrastructure, critical minerals, textiles, and clothing.
Delegates from India, including officials of the Geological Survey of India, EXIM Bank, and the Indian Pharmacopoeia Commission were also part of the committee. Along with them, a delegation of the Confederation of Indian Industry (CII), discussed their projects with AfCFTA officials.
India and Ghana trade links were a highlight. This investment of $2.87 billion is a great commitment for both nations and important for the development of their respective countries.
