were to benefit African countries in infrastructure and development programmes.
In yet another positive gesture, India announced a Special Duty- Free Tariff Preference( DFTP) for Africa. Tanzania joined the DFTP in 2009 and since then, Tanzania’ s exports to India have increasing significantly in 2009. While the exports before joining the DFTP had been less than 15 percent, the same has now increased to between 20 and 25 percent of the total trade volume. The major Tanzania exports to India have been cloves and variety of other spices, pulses, cashew nuts, coffee, cotton, sisal, minerals and gemstones, timber, hides / skins / leather, tanning / dyeing colouring materials, non-ferrous metals, essential oils, ores and metal scrap, etc. India’ s major exports to Tanzania include, inter alia, textile materials, garments, agricultural equipment, transport equipment and auto parts, pharmaceutical products, consumer goods, food grains, electrical machinery and other capital equipment, construction materials, mineral fuels, oils, yarn, iron and steel articles, plastic products, agro-chemicals, and rubber items including tyres. By all accounts, India has remained a leading trade partner of Tanzania. Equally important, India remains an important and reliable investment partner. Statistics available at the Tanzania Investment Centre as of May 2017 place India as the 5th largest investor in Tanzania with a cumulative investment of about USD 2.2 billion spread across about 420 projects, having created about 54,406 jobs in Tanzania. Besides, India is the 5th largest source of tourists visiting Tanzania, with the numbers indicating that there have been about 35,000 to 40,000 tourists from India per year, especially in the recent past.
Has the economic engagement between India and Tanzania increased comparatively after the BJP-led Modi government came into power with the vision to enhance the investment climate in the country? Can you please elaborate on the same with examples?
Certainly, the economic engagements between India and Tanzania after the BJP-led Modi government came to power in 2014 have increased significantly. It is in this period that we have witnessed not only a
Qvibrant business and commercial relationship but also the flow of
As maritime nations, investments from India to Tanzania has seen what I would call a
Tanzania and India have“ phenomenal increase”. And as stated elsewhere, India remains a
a common interest in leading trading partner comprising 15 percent of Tanzania Foreign the domain of maritime
Trade. India is also among the top five investment sources for security; this is, by and
Tanzania, with investments of up large, a priority for to $ 2.2 billion. Indian companies have invested heavily in Tanzania
Tanzania and is well in sectors such as manufacturing, transportation, tourism, agriculture / refl ected in the Tanzania agro-processing, services, financial sector, energy, construction,
telecommunication, human resources development, education, broadcasting, mining, and ICT. To name but a few of these companies- Kamal Group of Companies( export processing Zone Industrial Park), India’ s National Mineral Development Corporation( mineral exploration & exploitation), Bank of Baroda( financial sector), Bank of India( financial sector), Canara Bank( financial sector), TATA International Ltd( automobiles and chemicals), Reliance Industries( downstream and petroleum sector), Ashok Leyland( trucks and vehicles), Bajaj( scooters), TVs( scooters) and TanzIndia Assurance Company( insurance business), etc. In addition, under this administration, numerous delegations from both countries have periodically met to pursue commercial and other collaborative opportunities. For instance, a delegation of over 50 Indian businesspersons visited Tanzania in July 2016 coinciding with PM Modi’ s visit. Since then, 46 companies led by CHEMEXCIL participated at the Indian Chemical and Cosmetics Exhibition at Dar es Salaam on 28-29 July 2016, a delegation from the Solvent Extractors’ Association visited Dodoma and Dar es Salaam on oil and seed sector( sunflower), more than 50 companies led by PHD Chamber of Commerce and Industry participated at the East Africa International Trade Expo( July 2016), about 25 Indian companies led by APEDA visited Dar es Salaam in December, 2016, about 25 companies led by PHERMEXCIL visited Dar es Salaam where a business roundtable and B2B meetings were held, an Indian education fair was held in May 2017 in Tanzania, a working business mission by the Kerala Cashew Board was conducted in Tanzania in November 2017, an incredible India pavilion was organised at the Dar
National Security Strategy.
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