play videoMichael Okyere Baafi, Deputy Minister of Trade with other panelists at the events
The Deputy Minister for Trade and Industry, Micheal Okyere Baafi, has disclosed that Ghana made a total of US$1.18 billion dollars from its exports to India in 2020.
He stated that Ghana’s exports to India have increased by 17.2% in the past 25years.
Speaking during the India-Africa ICT Expo 2022 on September 14, 2022, the Deputy Minister noted that
Read full articlethe main constituents of Ghana’s imports to the Asian country are gold, nuts, and crude oil.
He said “It is worthy to mention that for the past 25years, Ghana’s export to India has increased at a rate of 17.2%, while the export of India to Ghana has also increased at a rate of 14.2%.
“In 2020, Ghana exported US$1.18billion worth of goods to India. The main constituents of these exports were gold nuts and crude oil accounting for $853million, $129million, $83million, and $92.8million dollars respectively.”
According to him, the statistics give an indication that the two countries must begin to focus on trade that centres majorly on manufactured products.
“India on the other hand exported mainly packaged medicaments, packaged bags, rice, and other important products to the country. These figures clearly demonstrate the importance of this expo, the conversations between our countries should be elevated to focus on the exchange of more manufactured products,” he added.
Touching further on the EXPO and India-Ghana relationship, the deputy trade minister said collaboration between the two countries have been very cordial leading to increased investments between the two nations.
“Over the past decade, we have seen the growth of Indian-based investors in Ghana. Ghana has benefitted a lot from Indian investment. The Ghanaian populace is grateful for this support, and it is worth mentioning that in the past 25 years Ghanaian exports to India have increased at an annualised rate of 17.2 percent while the exports of India to Ghana have increased at an annualised rate of 14.2 percent,” he said.
Meanwhile, the Indian High Commissioner to Ghana, Sugandh Rajaram on his part said relations have over the years been traditionally warm and friendly.
He said this has resulted in the exchange of business delegations in recent years which has led to an increase in investments by Indian companies in Ghana.
The High Commissioner speaking on the enormous potential and possibilities between Ghana and India advocated for the creation of necessary ecosystems for Indian and Ghanaian ICT entrepreneurs to ramp up their engagements for the two nations’ benefit.
"Technology and digitalisation remain key aspects of both countries’ industrialisation agenda, hence the need for more bespoke collaboration that drives efforts to make Ghana Africa’s ICT hub and a major player in AFCFTA."
He added that there is a need for India and Ghana to move beyond trading products and services as well as ensuring that the skills and technologies available in India are brought and integrated within the Ghanaian ICT ecosystem.
