Tanzania has surpassed Nigeria to become India’s second-largest trading partner on the continent after South Africa, the Tanzanian newspaper The Citizen reported.
The High Commission of India in Dar es Salaam disclosed that in the past fiscal year, Tanzania-Indian trade grew by 22%, as per the newspaper.
The bilateral trade value between the nations reportedly rose from $6.48 billion in 2022/23 to $7.9 billion in 2024, as of May 27.
"The latest trade statistics reveal not only an increase in the volume of bilateral trade but also an improvement in the trade balance," the commission's statement read.
Tanzania mainly exports agricultural products to India, including pigeon peas, avocados, and cashew nuts, and imports petroleum products, industrial machinery, and automobiles, among other items, from India, the outlet said.
The Tanzanian president and Indian prime minister met in New Delhi in October to talk about strengthening bilateral relations in defense, trade, investment, maritime security, and other areas. During the meeting, the two states indicated a desire to enhance bilateral trade using local currencies.