India and Ghana to Integrate Payment Systems for Enhanced Financial Collaboration
| Aspect | Details |
|---|---|
| Integration of Payment Systems | India and Ghana to integrate UPI and GHIPSS for instant, cost-effective fund transfers. UPI to be operational on GHIPSS within six months. |
| Digital Transformation Solutions | Discussions on MoU for Digital Transformation Solutions, Local Currency Settlement System, and leveraging AfCFTA. |
| Bilateral Trade (2022-23) | Total trade: USD 2.87 billion. Ghana's exports: gold, cocoa, cashew nuts, timber. India's imports: pharmaceuticals, agricultural machinery. Gold constitutes nearly 80% of India's imports from Ghana. |
| International Collaborations | NPCI International partners with Bank of Namibia to develop a UPI-like payment system. Similar discussions with Nigeria underway. |

