The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi has received the Indian High Commissioner to Ghana, Shri Surinder Bhagat, to explore opportunities for strengthening cooperation in the gold sector, as India accounted for approximately 25 per cent of Ghana’s small-scale gold exports in 2025.
The engagement comes amid growing importance of India as a major destination for Ghanaian gold, with the Asian country emerging as the second-largest market for small-scale gold exports after Dubai. GoldBod data show that Ghana exported 103,804 kilogrammes of small-scale gold through its aggregation system in 2025, with India absorbing about a quarter of the total.
The strong gold trade forms part of a broader economic relationship between Ghana and India, which spans commerce, investment and development cooperation. Gold remains a major driver of bilateral trade, alongside other Ghanaian exports such as cocoa, cashew nuts and timber products.
The two countries have an existing framework for advancing their economic relationship through the India-Ghana Joint Trade Committee, which has identified opportunities for cooperation in areas including investment, technology and industrial development. The framework provides a basis for expanding engagement beyond the existing exchange of commodities.
One notable example of India’s involvement in Ghana’s gold industry is the Royal Ghana Gold Refinery in Accra, established through a partnership between India’s Rosy Royal Minerals and the Bank of Ghana. The refinery, which opened in 2024, represents an avenue for collaboration in domestic gold processing and value addition.
Against this backdrop, potential areas for deeper cooperation include gold refining, technology transfer, skills development, investment in processing infrastructure and the development of Ghana’s jewellery and gold manufacturing industries. Such partnerships could help Ghana retain more value from its mineral resources rather than relying predominantly on exports of unrefined gold.
Cooperation is also expected to focus on improving gold traceability, responsible sourcing and compliance with international standards, particularly in the small-scale mining sector. GoldBod’s export data have highlighted the concentration of Ghana’s small-scale gold trade in a limited number of markets, underscoring the importance of strengthening the sector’s competitiveness and exploring opportunities to broaden market access.
The engagement between GoldBod and the Indian High Commissioner therefore presents an opportunity to build on the existing gold trade and explore a partnership that supports investment, local processing, industrial development and greater value retention in Ghana’s gold sector.
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