Trade between Ghana and India has reached an impressive $3 billion with Ghana maintaining a favourable balance, Foreign Affairs Minister Samuel Okudzeto Ablakwa disclosed on Monday ahead of the historic state visit of Indian Prime Minister Mr Shri Narendra Modi.

In addition to the strong trade performance, Mr. Ablakwa highlighted India’s longstanding role as a trusted development partner, having extended to Ghana lines of credit exceeding US$450 million over the past two decades.

These credit facilities, he said, had supported numerous transformative projects across sectors such as energy, agriculture, ICT, transport, and education, a testament to the depth of India-Ghana economic cooperation.

Mr. Ablakwa, speaking at a press brifing in Accra, said the visit is expected to further deepen economic ties, boost trade volumes, and consolidate Ghana’s position as a hub for India’s development cooperation in West Africa.

He noted that India remained one of Ghana’s most trusted and strategic development partners with decades of cooperation yielding high-impact projects across key sectors, including agriculture, energy, health, ICT, education, and transport infrastructure.

India and Ghana share a long-standing history of friendship and cooperation, dating back to the early days of Ghana’s independence. India opened a consulate in Accra in 1953, even before formal diplomatic relations were established in 1957.

Over the years, both countries have built on the foundation laid by their founding leaders, Dr Kwame Nkrumah and Jawaharlal Nehru, through political solidarity, trade and investment, and South-South cooperation.

“Ghana’s trade with India currently stands at about $3 billion. What’s refreshing is that Ghana enjoys a trade surplus with India, largely driven by our gold exports,” Mr. Ablakwa stated.

India remains one of the largest importers of Ghanaian gold, and the sector continues to drive bilateral trade.

But beyond gold, India’s engagement with Ghana has evolved into a comprehensive development partnership that includes credit lines, grants, and technical cooperation.

The Foreign Minister said trade volumes had previously peaked at $4.5 billion prior to the COVID-19 pandemic and expressed optimism that with renewed engagement during Prime Minister Modi’s visit, trade figures would climb even higher.

The Minister outlined a number of flagship projects financed through Indian lines of credit and grants that continued to shape Ghana’s development.

He cited the Kofi Annan ICT Centre of Excellence, commissioned in 2003, the Komenda Sugar Factory, established under the Mahama administration with Indian support, and the Elmina Fish Processing Plant, completed in 2016.

Other key projects include the Tema-Mpakadan Standard Gauge Railway Line, which forms part of a broader vision to connect Ghana with Burkina Faso; the Tamale-Wa Road; and the agricultural machinery assembly plant that provides tractors, harvesters, and farm inputs to Ghanaian farmers.

Mr. Ablakwa also mentioned the Rural Electrification Project, which brought electricity to hundreds of off-grid communities across Ghana, and the Foreign Service Institute, the first of its kind in West Africa, established with an Indian grant.

“These are not just symbolic projects. They have transformed lives and communities across Ghana. India has proven over the years to be a genuine development partner with unmatched reliability,” he said.

Providing details of the itinerary, the Minister said Prime Minister Modi will be welcomed at the Jubilee Presidential Lounge by President John Dramani Mahama, in a full military ceremony.

This will be followed by a closed-door meeting between the two leaders and expanded bilateral discussions involving ministers and officials from both countries.

Areas of focus will include the establishment of a Ghana-India Joint Commission, cooperation on agriculture, support for Ghana’s ambition to become a vaccine manufacturing hub, defence and security collaboration, cultural exchanges, and mutual recognition of standards.

At the end of the talks, several Memoranda of Understanding will be signed including agreements between the Ghana Standards Authority and the Bureau of Indian Standards, partnerships in health and allied sciences, collaboration in traditional medicine and education, and MoUs on agriculture and defence cooperation.

In the evening, President Mahama will host a state banquet in honour of Prime Minister Modi. During the ceremony, Ghana will confer its highest national award - the Companion of the Order of the Star of Ghana - on the Indian leader in recognition of his commitment to strengthening bilateral ties.

On Thursday, July 3, Prime Minister Modi will engage with members of the Indian community in Ghana, visit the Kwame Nkrumah Memorial Park to honour the legacy of Ghana’s founding President, and later deliver an address to Ghana’s Parliament.

The Foreign Minister expressed confidence that the state visit will further cement the already strong relations between Ghana and India and unlock new areas of cooperation.