Trade between India and Tanzania increased to $8.6 billion in 2024 from $7.8 billion in 2023, indicating greater bilateral connections and a strengthening investment climate. Mr Bishwadip Day, Indian High Commissioner to Tanzania, attributed the rise to continuous diplomatic engagement and business-friendly changes. Mr Day, speaking during Haryana Day at the 49th Dar es Salaam International Trade Fair (DITF), emphasised the importance of collaboration across various industries such as Construction, Mining, Marine Infrastructure, Lighting & Energy and Woodworking.Our partnership extends across the economic, political, health, and educational arenas. With the better business climate, investors from the Indian state of Haryana have come to investigate new opportunities," he said. He noted that high-level visits, such as Indian Prime Minister Narendra Modi's 2016 visit to Tanzania and President Samia Suluhu Hassan's 2023 state visit to India, have significantly increased bilateral trade and investment.
India-Tanzania trade hits $8.6 billion as investment climate advances
Opening the India Day ceremony at the DITF, Tanzania Special Economic Zones Authority (Tiseza) Director General, Mr Gilead Teri, stated that India has consistently led in foreign direct investment (FDI) inflows into Tanzania over the last five years. Tanzania welcomes investment from Haryana and beyond. "There are numerous opportunities across multiple sectors, and Tiseza is ready to help with the investment process," added Mr Teri. He advised the Indian delegation to use the trade exhibition to create ties with Tanzanian businesses and seek joint ventures. Our long-standing cooperation continues to produce benefits. We anticipate that with continued collaboration, trade volumes will increase even higher next year," he added.
The state of Haryana expressed a strong interest in Tanzania's agriculture, technology, and real estate sectors. To entice potential investors, existing Indian entrepreneurs in the country shared their beneficial experiences. Indian entrepreneurs who have previously established themselves in the country shared their excellent experiences in order to entice prospective investors. Mr Samrat Chanana, a long-term investor, praised Tanzania's enabling climate. Tanzania has the potential to become one of Africa's most developed countries within five years. Investors should not be concerned about losses because there are actual prospects for growth," he said. Indian investors at the event advocated for a free trade deal between the two countries to boost exports and improve long-term partnership.
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