Tanzania is one of the nations that has gained the most from India’s current emphasis on the continent, as New Delhi has established roughly fifteen new missions.
On Monday, Prime Minister Narendra Modi and visiting Tanzanian President Samia Suluhu Hassan strengthened their relationship to a strategic partnership by pledging to increase collaboration in a number of areas, including commerce, investment, defense, and counterterrorism.
Tanzania is one of the nations that has gained the most from India’s current emphasis on the continent, as New Delhi has established roughly fifteen new missions. Hassan’s visit coincides with the signing of an agreement to establish the Indian Institute of Technology’s (IIT) first overseas campus in Tanzania and the African Union’s full membership in the G20 during last month’s summit, which was hosted by India.
Speaking in Hindi, Modi stated, “We are turning our long-standing friendship into a strategic partnership today.” Hassan was present for the joint media appearance. According to him, the two nations have devised a plan to enhance trade and investment cooperation, which includes a plan to boost trading in local currencies.
A five-year defense cooperation strategy that includes new sectors including military training, marine cooperation, capacity building, and defense industry has also been agreed upon by the two parties.
“The choice made by IIT-Madras to establish a campus in Zanzibar marks a significant turning point in our relationship. Tanzania will evolve into a center for top-notch education for students from neighboring nations as well as Tanzanians, according to Modi, who called Tanzania India’s “largest and closest development partner in Africa.”
As nations bordering the Indian Ocean, we emphasized the necessity of stepping up bilateral cooperation to address issues including drug trafficking, piracy, and marine security. Tanzania is a key participant in the Indo-Pacific endeavors, according to Modi.
He said that Tanzania and India have chosen to step up their collaboration in counterterrorism because they both believe that terrorism is the greatest security threat to humankind.
India, according to Hassan, is like “an extended family member,” and the purpose of her visit is to underline Tanzania’s dedication to strengthening ties and collaboration. She acknowledged that India is Tanzania’s third-largest trading partner and conveyed her nation’s appreciation for India’s contribution to the African Union’s G20 membership, debt relief programs for vulnerable countries, and funding for the development of clean energy in developing countries.
Six agreements were signed by the two parties: a memorandum of understanding (MoU) on sharing digital public infrastructure, an industrial park establishment agreement between Jawaharlal Nehru Port Authority and Tanzania Investment Center, and a technical agreement between the Indian Navy and Tanzania Shipping Agencies Corporation on sharing white shipping information.
Tanzania’s main export market is India, where $3.9 billion in exports from Tanzania were received in 2022–2023. Two-way trade was valued at $6.4 billion in 2022–2023. With $3.7 billion in investments, India ranks fifth among all investors in Tanzania. Indian businesses have completed 630 projects and generated 60,000 employees there.
At a press briefing, Dammu Ravi, the secretary for economic relations in the Ministry of External Affairs, stated that both parties had opened Vostro accounts to enable the transaction in local currencies, which was started by India last year. He described the move as a work in progress and stated, “Some transactions have already happened, although it’s a very small amount…about $50 million dollars.”
According to him, the Memorandum of Understanding on digital public infrastructure will make it possible for Indian businesses to provide services in sectors like fintech and digital payments.
According to Ravi, Tanzania has a major stake in maintaining the safety of its shipping lines against piracy and other disruptions. He said that Modi and Hassan talked about working together to combat maritime security issues, particularly terrorism, drug trafficking, and piracy.
Tanzania also indicated a desire to purchase Indian military hardware. “We need to examine our options as that necessitates providing specifics about the items and the payment schedule,” stated Ravi. (Get Latest News )