The 4th Session of India-Ghana Joint Trade Committee (JTC) meeting was held in Accra the capital city of Ghana from 2nd to 3rd May, 2024. India, Ghana agree to operationalize UPI on Ghana Interbank Payment and Settlement Systems in six months.
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| 4th India-Ghana Joint Trade Committee |
4th India-Ghana Joint Trade Committee (JTC) Meeting
A seven-member delegation from India led by Additional Secretary, Department of Commerce, Ministry of Commerce and Industry Amardeep Singh Bhatia accompanied by High Commissioner of India to Republic of Ghana Manish Gupta and Economic Adviser, Department of Commerce, Ms. Priya P. Nair held a 4th Joint Trade Committee (JTC) meeting with their Ghanaian counterparts in Accra from 2nd to 3rd May, 2024.
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India-Ghana JTC meeting: Co-chair by
India-Ghana JTC meeting 2024 was co-chaired by Deputy Minister for Trade and Industry, Republic of Ghana, Michael Okyere-Baafi; and Additional Secretary, Department of Commerce, Amardeep Singh Bhatia.
4th India-Ghana JTC meeting: Key Highlights
Both sides agreed to work expeditiously towards the operationalization of Unified Payment Interface (UPI) of National Payments Corporation of (NPCI) on Ghana’s Ghana Interbank Payment and Settlement Systems (GHIPSS) within a period of 6 months.
Both sides delved into discussions regarding the possibilities of a Memorandum of Understanding (MoU) on Digital transformation Solutions; Local Currency Settlement System and also deliberated on the opportunities offered by African Continental Free Trade Agreement (AfCFTA).
Both sides identified several areas of focus for enhancing both bilateral trade as well as mutually beneficial investments. These include cooperation in pharmaceuticals, healthcare, information and communication technology, agriculture and food processing, renewable energy, power sector, digital economy and digital infrastructure, critical minerals, textiles and garments, etc.
India-Ghana JTC meeting: History
The history of the India-Ghana Joint Trade Committee (JTC) meeting was started in 1992. The 1st JTC meeting was held in Accra in September 1992. The 2nd meeting of the JTC was held in Delhi on 20-21 January 2011. The 3rd JTC was held in New Delhi on 21 July 2022.
India–Ghana relations
India–Ghana relations are bilateral relations between India and Ghana. India opened a consulate in Accra in 1953 and established full diplomatic relations with Ghana soon after its independence in 1957. As a member of the Commonwealth, India opened a High Commission in Accra. Ghana established its High Commission in New Delhi after its independence.
Ghana is an important trading partner of India in the Africa region. Bilateral trade between India and Ghana stood at USD 2.87 billion in 2022-23. India stands as a leading investor in Ghana and emerged as the third-largest investor. These investments traverse diverse sectors, encompassing pharmaceuticals, construction, manufacturing, trade services, agriculture, tourism, and more.
Ghana was included as one of the nine West African countries under the GOI’s TEAM 9 initiative. In recent years, India-Ghana relations have been enriched by enhanced South-South cooperation efforts between the two countries.
India has been participating in Ghana’s development by providing assistance in setting up projects in the spirit of South-South cooperation through provision of Lines of Credit or grants. Amongst recent projects are the India-Ghana Kofi Annan Centre of Excellence for ICT; the Flag Staff House; the Pan African E-Network Project and rural electrification.
Currently a number of projects are at various stages of process, including sectors such as fisheries, waste management, railway equipment, agro-processing, fire-tenders, etc.
Ghana has also been a participant in India's contribution to the human resource development in developing countries through programmes such as the Indian Technical and Economic Cooperation (ITEC).
Static Current Affairs related to Ghana for upcoming exams
- Capital city: Accra
- Largest city: Accra
- Official languages: English
- President: Nana Akufo-Addo
- Vice-President: Mahamudu Bawumia
- Total Population 2023 estimate: 34,237,620 (48th)
- Currency: Cedi (GHS)
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