Forum to facilitate Tanzania-India investment, says envoy

India Business Forum (IBF) will provide a high level multi-stakeholder platform for Tanzanian and Indian business persons to share business experiences and technology, in a bid to strengthen ties between
the two countries.

 

India’s High Commissioner to Tanzania, Debnath Shaw made the remarks during the India Business Forum held in Dar es Salaam at the weekend.

 

According to Shaw, Tanzania business persons need not only invest in Tanzania but also tap business opportunities in the growing Indian economy.

He said that out of the total Tanzanian exports last year, 70 per cent were shipped to India.

 

“India and Tanzania have huge business opportunities. I urge Tanzanians to tap investment opportunities present in India so as to boost your county’s economic development. Let me remind all traders that any export from Tanzania enters the India market duty free,” said the Commissioner.

 

“Such a business union is also present in Ethiopia since 2009. Many achievements have so far been observed. So I appeal to businesspeople who wish to start up business ventures in India to organise themselves into groups so as to benefit and expand their businesses,” he said.

 

On his part, IBF Chairman Gagan Gupta insisted that having such a business partnership brings together business persons to have a common say in different business issues and enable them to secure reliable market for their goods.

He said, through the partnership, Tanzania business persons can easily link with their counterparts in India. 

 

“To date we have 100 members. We intend to have as many members as possible. The forum helps us exchange business ideas, skills and how to identify reliable markets for our products,” said Gupta.

 

 India Business Forum (IBF) is an organisation which composes various Indian investors present in Tanzania.  This forum was established three years ago.

Tanzania stands to benefit more from its cordial relations with India if members of the business community in the East African region start investing in the South Asian nation.

SOURCE: THE GUARDIAN