TRADE WITH GHANA
Export Opportunities in India
Bilateral Trade crossed US$ 1 billion marks for the first time in 2011-12. Beginning in 2014-15, trade balance has shifted in favour of Ghana. The trade figures for the last few years are (in US$ million)
|
Year |
India’s exports to Ghana |
India’s Imports from Ghana |
Total Trade |
Balance of Trade |
|
2011-12 |
800.35 |
403.67 |
1204.02 |
396.68 |
|
2012-13 |
744.12 |
277.61 |
1021.73 |
466.51 |
|
2013-14 |
831.48 |
370.56 |
1202.04 |
460.92 |
|
2014-15 |
680.39 |
1257.60 |
1937.99 |
-577.21 |
|
2015-16 |
623.24 |
2981.27 |
3604.51 |
-2358.03 |
|
2016-17 |
682.27 |
1938.54 |
2620.82 |
-1256.27 |
|
2017-18 |
635.78 |
2710.05 |
3345.83 |
-2074.27 |
(Source: Department of Commerce, Government of India)
Ghana’s main (traditional) exports are gold, cocoa, nuts, and timber products. Gold accounted for nearly 81% of the total imports by India from Ghana. India’s major exports to Ghana include pharmaceuticals, agricultural machinery, transport vehicles, electrical equipment, plastics, iron & steel, ethyl alcohol, beverages & spirits, cereals, made-up textiles, etc.
A Joint Trade Committee between Ghana and India was established to promote economic co-operation and enhance bilateral trade between both countries. Still, the but the Committee has not met for several years. Efforts are underway to reactivate this as a mechanism to address all trade concerns.
A Ghana-India development Consortium was also set up in February 2002, comprising representatives from privately-owned Indian companies, wishing to co-operate and collaborate with local entrepreneurs.