Dar es Salaam [Tanzania], May 1 (ANI): India and Tanzania have reaffirmed their commitment to deepen bilateral trade and economic ties, with trade between the two countries reaching USD 9.02 billion in 2025-26, up from USD 8.64 billion in the previous fiscal, according to the Ministry of Commerce & Industry.

The announcement came during the 5th Session of the India-Tanzania Joint Trade Committee (JTC) held on April 29-30 in Dar es Salaam, where both sides reviewed progress and explored new areas of cooperation.

According to the Ministry of Commerce & Industry, 'a comprehensive review of bilateral merchandise trade reflected steady and consistent growth since the 4th JTC,' highlighting the upward trajectory in economic engagement between the two countries.

The meeting was co-chaired by Commerce Secretary Rajesh Agrawal and Tanzania's Permanent Secretary Amb Dr Samwel William Shelukindo.

Both countries discussed a wide range of sectors to boost cooperation, including 'trade settlement in local currencies, facilitation of long-term business visas for Indian businesspersons, strengthening regulatory collaboration in pharmaceuticals and capacity building in areas of health, AYUSH, education and shipbuilding.' The ministry noted that discussions were held in a 'friendly and positive atmosphere, reflecting the strong and close relations between India and Tanzania.'

Key focus areas included mining, gemstone value addition, agriculture, healthcare, and digital cooperation. The ministry said developments in digital collaboration were reviewed 'with a focus on digital public infrastructure, including India Stack,' along with opportunities in real-time payments and digital services.

In education and skills development, both sides highlighted the role of IIT Madras Zanzibar as a regional hub and stressed the need for stronger institutional partnerships. Collaboration in MSMEs, vocational training, and innovation was also identified as a priority.

India also underscored its development cooperation efforts, noting that Lines of Credit 'exceeding USD 1.1 billion for water infrastructure projects in Tanzania... are expected to benefit over 6 million people across 24 towns.'

Further discussions covered cooperation in renewable energy, railways, shipbuilding, and agriculture, with both sides exploring opportunities in agro-processing, micro-irrigation, and livestock development.

The ministry said the meeting concluded with a 'reaffirmation of the shared commitment to deepening bilateral trade and economic relations,' while emphasising faster implementation of ongoing initiatives and expanding cooperation across sectors.

The next session of the India-Tanzania Joint Trade Committee will be held in New Delhi on mutually convenient dates. (ANI)