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🔅India-Ghana Joint Trade Committee
Syllabus: GS-2, International Relations
Mains: Relations between India and African countries
Context:
♻️4th Session of India-Ghana Joint Trade Committee held in Accra.
♻️Details:
✅In the meeting, both sides undertook a detailed review of recent developments in bilateral trade and investment ties and acknowledged the vast untapped potential for further expansion.
✅Both sides agreed to work expeditiously towards the operationalisation of the Unified Payment Interface (UPI) of the National Payments Corporation of India (NPCI) on Ghana’s Ghana Interbank Payment and Settlement Systems (GHIPSS) within 6 months.
✅Both sides delved into discussions regarding the possibilities of a Memorandum of Understanding (MoU) on Digital transformation Solutions; and Local Currency Settlement System and also deliberated on the opportunities offered by the African Continental Free Trade Agreement (AfCFTA).
✅Both sides identified several areas of focus for enhancing bilateral trade and mutually beneficial investments.
✅The areas include pharmaceuticals, healthcare, information and communication technology, agriculture and food processing, renewable energy, power sector, digital economy and digital infrastructure, critical minerals, textiles and garments, etc.
India – Ghana Relations:
✅Ghana is an important trading partner of India in the African region.
✅Bilateral trade between India and Ghana stood at USD 2.87 billion in 2022-23.
✅India is a leading investor in Ghana and emerged as the third-largest investor.
✅These investments traverse diverse sectors, encompassing pharmaceuticals, construction, manufacturing, trade services, agriculture, tourism, and more.
#⃣#tag:- #GS2 #Security #Campaign #Pre
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