Ghana-India US$5Bn Trade Pact Opens Doors for Local Firms

Healthcare, mining, and fintech sectors poised for major gains

By News Ghana 

July 5, 2025

Ghana and India have unveiled plans to increase bilateral trade from $3 billion to $5 billion within five years, following Indian Prime Minister Narendra Modi’s first visit to Accra in three decades.

The agreement, announced by India’s Economic Relations Secretary Dammu Ravi, aims to create new pathways for cross-sector collaboration, leveraging Ghana’s position as host of the AfCFTA Secretariat.

Healthcare and pharmaceuticals feature prominently, with India committing to help Ghana establish West Africa’s first vaccine manufacturing hub.

This initiative is expected to generate contract opportunities for local SMEs in production, packaging, and logistics. Ghanaian mining firms also stand to benefit, as India seeks lithium, bauxite, and rare earth minerals for its green energy transition, opening doors to joint ventures and technology transfers.

A landmark digital finance integration will link India’s Unified Payments Interface (UPI) with Ghana’s Pan-African Payment System (PAPSS), simplifying cross-border transactions for fintechs and banks. New defense agreements covering counter-terrorism and maritime security aim to stabilize trade routes, particularly in Ghana’s oil-producing regions.

For Ghanaian businesses, the pact offers:

Export Access: Entry to India’s 1.4 billion-consumer market

Indian companies gain a strategic foothold in Africa’s continental free trade zone, while foreign firms in Ghana may access co-financing opportunities.

Non-commercial collaborations, including knowledge exchanges between Ayurvedic and Ghanaian herbal medicine practitioners, further broaden the partnership’s scope.