Tanzania-India Bilateral Trade Soars to New Heights.

Tanzania-India Bilateral Trade Soars to New Heights.

In a remarkable upswing, the bilateral trade between Tanzania and India is poised for exponential growth, solidifying Tanzania’s standing as India’s third-largest trade partner in Africa by the 2023/24 fiscal year. Projections indicate a surge in trade volume, reaching an impressive 6.5 billion US dollars (approximately 15 trillion Tanzanian shillings) in 2023/24, up from the previous year’s 4.5 billion US dollars.

Highlighting these significant strides, Mr. Manoj Verma, the Indian High Commissioner to Tanzania, emphasized the achievements during the celebration of India’s 75th independence anniversary in Dar es Salaam. Mr. Verma announced a strategic partnership upgrade in bilateral relations, a landmark decision made during President Dr. Samia Suluhu Hassan’s state visit to India in October 2023.

Envisioning a promising future, Mr. Verma expressed optimism about the potential acceleration of the trade relationship, with an ambitious goal of reaching the second position. He underscored India’s commitment to strengthening economic ties, citing plans to establish an Industrial Park in Tanzania.

“As we step into 2024, we take pride in the achievements of 2023 and the progress in our bilateral relations. The years ahead hold a commitment to fortify India-Tanzania relations,” stated Mr. Verma.

The festivities also included the inauguration of the India-Tanzania Friendship Exhibition at the National Museum of Tanzania, graced by the presence of the Minister for Tourism and Natural Resources, Ms. Angellah Kairuki. Mr. Verma expressed gratitude for the shared culture between Tanzanians of Indian ethnicity and the local population, emphasizing the government’s commitment to equality and human dignity.

“The exhibition unveiled today offers a glimpse into our shared history, shaping our enduring friendship. The contributions of the Indian Diaspora have not only molded the past but will undoubtedly fortify the bonds of friendship in the coming years,” highlighted Mr. Verma.

Minister Kairuki, during her address at the exhibition, celebrated the centuries-old historical ties between Tanzania and India, marked by trade exchanges and the Indian influence on Swahili settlements along the East African coast. She commended the collaboration between the National Museum of Tanzania and the High Commissioner of India, underlining the shared heritage and brotherhood between the two nations.

“With this joint exhibition, Tanzanians and Indians mark a significant milestone in our enduring relationship. It is our hope that the exhibition will raise awareness of our strong ties and further strengthen our friendship,” stated Minister Kairuki. Emphasizing the post-independence relationship, she highlighted Tanzania’s substantial gains, including access to training opportunities and markets for its cash crops.