Dar es Salaam. Economic and investment ties between Tanzania and India continue to strengthen, with trade between the two countries reaching $9.02 billion, equivalent to approximately Sh23.8 trillion, in the 2025/2026 financial year.
India’s Embassy in Tanzania Head of Political, Information and Communication Affairs, Lakshay Anand, said this during the launch of Divine Serenity, a modern residential project comprising 136 homes located along Haile Selassie Road in Masaki, Dar es Salaam.
Mr Anand said the value of trade between Tanzania and India increased from $8.64 billion, equivalent to approximately Sh22.9 trillion, in the 2024/2025 financial year to $9.02 billion in the following financial year.
He said the increase was a positive sign of continued growth in trade and economic cooperation between the two countries.
“We are proud to see various companies from India increasingly coming to invest in Tanzania, a development that is creating more business and employment opportunities for Tanzanians,” he said.
According to Anand, the growth in trade has been driven by various business activities as well as a favourable investment environment that continues to be created by the Government under President Samia Suluhu Hassan.
He said the Divine Serenity project was among the examples of how economic ties between Tanzania and India were being translated into direct investment in the private sector.
The project is worth more than $30 million, equivalent to approximately Sh79.8 billion, and was established through a partnership involving Divine Steel Ltd Tanzania, a company under India’s Navdurga Group.
Anand said India was among the key sources of investment in Tanzania due to the vast opportunities available for expanding trade and investment.
“India is among the leading sources of investment in Tanzania due to the vast opportunities available to expand trade and investment. The Divine Serenity project has added value to business in the country,” he said.
He said the continued increase in investment from India was a sign of growing confidence among investors from the country in Tanzania’s economy For his part, Navdurga Group Managing Director Shivanshu Chhawchharia said the project demonstrated the company’s long-term confidence in Tanzania and the growth of Dar es Salaam.
He said the company had decided to develop a modern residential complex with various amenities to provide customers with real value for their investment. Chhawchharia said the project aimed to change the pricing landscape in Dar es Salaam’s high-end residential property market.
He said 30 homes had already been sold, a development he said demonstrated the strong market response even before the project was officially launched. “So far, a total of 30 buyers have purchased homes, demonstrating how well the project has been received.”
Register to begin your journey to our premium contentSubscribe for full access to premium content
