India–Tanzania trade reaches $8.6 billion as investment climate strengthens

Dar es Salaam. Trade between India and Tanzania rose to $8.6 billion in 2024, up from $7.8 billion in 2023, reflecting stronger bilateral ties and an improving investment climate.

Indian High Commissioner to Tanzania, Mr Bishwadip Day, attributed the growth to ongoing diplomatic engagement and reforms that have enhanced the ease of doing business.

Speaking during Haryana Day at the 49th Dar es Salaam International Trade Fair (DITF), Mr Day highlighted cooperation across a wide range of sectors.

“Our relationship spans the economic, political, health, and education spheres. With the improved investment climate, investors from the Indian state of Haryana are here to explore 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 boosted trade and investment between the two countries.

Opening the India Day event at the DITF, the Tanzania Special Economic Zones Authority (Tiseza) Director General, Mr Gilead Teri, said India has consistently led in foreign direct investment (FDI) inflows into Tanzania over the past five years.

“Tanzania welcomes investors from Haryana and beyond. There are vast opportunities across multiple sectors, and Tiseza stands ready to facilitate the investment process,” said Mr Teri.

He encouraged the Indian delegation to use the trade fair as a platform to establish partnerships with Tanzanian firms and pursue joint ventures.

“Our longstanding partnership continues to yield results. With sustained collaboration, we expect trade volumes to rise even further next year,” he added.

The state of Haryana expressed keen interest in Tanzania’s agriculture, technology, and real estate sectors.

Indian entrepreneurs already operating in the country shared their positive experiences to encourage new investors.

A long-time investor, Mr Samrat Chanana, commended Tanzania’s enabling environment.

“I now live in Tanzania as if it were home. The peaceful, business-friendly environment makes it ideal for long-term investment,” he said.

Mr Chanana also praised the adaptability of Tanzanians to new technologies.

“In five years, Tanzania could become one of Africa’s most developed countries. Investors should not fear losses here—growth opportunities are genuine,” he added.

Indian investors at the event called for a free trade agreement between the two nations to unlock export potential and strengthen long-term cooperation.