{"id":72654,"date":"2024-05-06T17:21:12","date_gmt":"2024-05-06T17:21:12","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/uncategorized\/india-ghana-mull-local-currency-settlement-agreement-indian-commerce-ministry-reveals"},"modified":"2024-05-06T17:22:46","modified_gmt":"2024-05-06T17:22:46","slug":"india-ghana-mull-local-currency-settlement-agreement-indian-commerce-ministry-reveals","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/india-ghana-mull-local-currency-settlement-agreement-indian-commerce-ministry-reveals","title":{"rendered":"India &amp; Ghana Mull Local Currency Settlement Agreement, Indian Commerce Ministry Reveals"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Ghana. <\/strong><\/span><b>Many developing countries, including the BRICS, have been active in recent years in promoting de-dollarization and the use of national currencies instead of the US currency.<\/b><\/p>\n<p>India and Ghana have discussed the possibility of signing a memorandum of understanding (MoU) on &#8216;Local Currency Settlement System&#8217; during the Joint Trade Committee (JTC) meeting in Accra, a statement by the Indian Commerce Ministry said.<\/p>\n<p>A seven-member Indian delegation, led by Amardeep Singh Bhatia, an Additional Secretary at Department of Commerce, met Ghanaian officials on 2 and 3 May, it said.<\/p>\n<p>The two countries have identified &#8220;focus&#8221; areas for enhancing bilateral trade, it said.<\/p>\n<p>These areas include pharmaceuticals, healthcare, Information and Technology (IT), agriculture and food processing, renewable energy, power sector, digital infrastructure, critical minerals and textiles.<\/p>\n<p>The Indian statement said that both the countries also agreed to operationalize India&#8217;s Unified Payments Interface (UPI) digital payments system in Ghana within a six-month time frame.<\/p>\n<p>Officials from both the nations also discussed the possibility of signing pacts in the realm of digital public infrastructure (DPI) as well as held talks on &#8220;opportunities&#8221; offered for Indian businesses by the African Continental Free Trade Agreement (AfCFTA).<\/p>\n<p>India ranks among Ghana&#8217;s top trading partners, with two-way trade dominated by Ghana&#8217;s gold exports to India.<\/p>\n<p>Indian companies invested close to $100 million in Ghana in 2021, representing nearly eight percent of the total foreign direct investment (FDI) inflows in the African nation.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/ghana\">Ghana<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Ghana. Many developing countries, including the BRICS, have been active in recent years in promoting de-dollarization and the use of national currencies instead of the US currency. India and Ghana have discussed the possibility of signing a memorandum of understanding (MoU) on &#8216;Local Currency Settlement System&#8217; during the Joint Trade Committee (JTC) meeting [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":72653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,5099],"tags":[5092,5096,429],"class_list":["post-72654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>India &amp; Ghana Mull Local Currency Settlement Agreement, Indian Commerce Ministry Reveals - Ghana<\/title>\n<meta name=\"description\" content=\"Many developing countries, including the BRICS, have been active in recent years in promoting de-dollarization and th ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/india-ghana-mull-local-currency-settlement-agreement-indian-commerce-ministry-reveals\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India &amp; 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