Ghana-India trade to hit 5 billion dollars by 2020

The President of India Pranab Mukherjee is projecting trade volumes between Ghana and India would hit 5 billion dollars by 2020.

Speaking at the Ghana India Business Forum as part of his 2 day state visit to the country, Mukherjee said trade volumes between the two countries have risen steadily from 1 billion dollars in 2012 to 3 billion dollars in 2015.

According to him , Ghanaian business leaders must be ready to diversify and expand as the two countries partner to explore various sectors of mutual benefit .

India’s Exports to Ghana are: Pharmaceuticals; semi finished iron and steel; machinery; Sugar; plastic products; wood products and rice.

While Ghana’s Exports to India are: Cashew Nuts; Scrap Metal; Wood; Cotton; Oil Seeds and Spices.

Apart from these traditional exports between the two countries, there is also a growing demand for Indian clothing and textiles, consumer items like biscuits and confectionery, cosmetics and jewellery.

The demand for cocoa beans from Ghana to India is also growing.

President Pranab Mukherjee, said business leaders in Ghana must be pragmatic to the changing demands of various markets.

The minister of foreign affairs Hannah Tettey also speaking at the forum said Ghana is committed to increasing trade volumes between the two countries to meet the 5 billion dollar target.

The Association of Ghana Industries (AGI) in partnership with the Confederation of Indian Industry organised the Ghana India Business Forum involving a delegation of 20 businesses from India and business leaders in Ghanaian counterparts.