Be aggressive like China, India urged

Happenings

An interactive session with HE Mr Debnath Shaw, High Commissioner of India to Tanzania, was organised by PHD Chamber of Commerce and Industry on May 23, 2014, at PHD House in New Delhi.

Alok B Shriram, Sr Vice President, PHD Chamber, set the tone for the session by referring 21st century as the century of Asia and Africa. Admitting that China has the first mover advantage, he stressed that there is potential for economic cooperation between India and Tanzania. “There is a large Indian diaspora which will play a significant role,” he said.

HE Mr Debnath Shaw said, "With a young population, Tanzania is a land of opportunities. It got rich mineral resources waiting to be tapped. Indians have a major say in many sectors of economy. Tanzania is open to foreign participation in trade and manufacturing."

China kept echoing all through the session. HE Mr Debnath Shaw expressed hope that India should take a cue from China, and be aggressive in its engagement with Tanzania.

India and Tanzania have traditionally enjoyed close and friendly trade relations for many decades. Bilateral trade between India and Tanzania has substantially grown from US$ 1.2 billion in 2008-09 to US$ 4.12 billion in 2013-14. Exports from India to Tanzania have trebled from US$ 1.2 billion in 2008-09 to US$ 3.4 billion in 2013-14 while India’s imports from Tanzania have increased considerably from US$ 190 million in 2008-09 to US$ 724 million in 2013-14.

Tanzania is a sizeable country in Africa and enjoys excellent geographical location with diverse investment opportunities in the areas of agriculture, coal refining and processing, mining, petroleum & gas, infrastructure, financial services, human resource development, information and communication technology, healthcare, tourism and natural resources such as fishing & forestry.

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