NEED TO INCREASE TRADE BETWEEN INDIA AND TANZANIA: KAMAL NATH
INVESTMENT OPPORTUNITIES IN TELECOM AND INFRASTRUCTURE DEVELOPMENT
Date : 19 Jan 2009
Location : New Delhi
Shri Kamal Nath, Union Minister of Commerce and Industry, has stated that there is a need to increase the bilateral trade between India and Tanzania, as there is huge potential for the same. During the bilateral interaction with the Tanzanian Minister for Industry, Trade and Marketing, Dr. Mary Nagu, here today, Shri Kamal Nath called for the Tanzanian investors to avail the opportunities of the favourable investment climate in India, particularly in the sectors viz., telecommunication, fibre-optics, infrastructure development and tourism.
Shri Kamal Nath welcomed partnerships and joint ventures with Tanzania in sectors like telecom, agro and power & energy. The Minister added that India would like to explore and investment in the development of industries based on crops such as cotton, sugar, soya bean and groundnuts.
The total bilateral trade between India and Tanzania during 2007-08 was US $ 752.16 million (exports - $ 587.60million and imports $ 164.56 million). Major items of India’s exports to Tanzania include petroleum, machinery & instruments, drugs, pharmaceuticals & fine chemicals, electronic goods, transport equipments etc. Major items of India’s imports from Tanzania are cashew, pulses, spices, pearls, leather, non-ferrous metals etc.