India and Tanzania Strengthen Trade Ties with Local Currencies and Long-Term Visas

India and Tanzania are discussing trade transactions in local currencies to enhance economic relations. They also focus on long-term business visas for Indians, collaboration in pharmaceuticals, and capacity building in various sectors. Bilateral trade reached USD 9.02 billion in 2025-26, up from USD 8.64 billion in 2024-25.

India and Tanzania are taking significant steps to enhance their economic partnership by considering trade settlements in local currencies. This initiative aims to strengthen bilateral ties and ease the business operations between the two nations.

During the India-Tanzania Joint Trade Committee meeting held in Dar es Salaam on April 29-30, 2026, senior officials, including India's Commerce Secretary Rajesh Agrawal and Tanzania's Permanent Secretary for the Ministry of Foreign Affairs Dr. Samwel William Shelukindo, explored multiple areas for cooperation. Key topics included long-term business visas for Indian entrepreneurs, regulatory collaboration in pharmaceuticals, and potential partnerships in shipbuilding.

Furthermore, discussions extended to real-time payments and digital services, showcasing India's expertise in these sectors. The bilateral trade volume, which rose to USD 9.02 billion in 2025-26 from USD 8.64 billion the previous year, underscores the growing economic ties between the two countries.