NEW DELHI: Her Excellency Samia Suluhu Hassan, President of Tanzania while addressing the ‘India-Tanzania Investment Forum’, organized by FICCI, jointly with CII and Assocham on October 10, said that we want to further elevate the relations between the two nations. “This new relationship will focus on stronger development, collaboration and prosperity of our people. In Tanzania, the path that I am leading is based on 4 R’s – Reconciliation, Resilience, Reforms and Rebuilding. We intend to create a modern, vibrant and inclusive economy that will provide opportunities for all,” she added.

The President while inviting Indian businesses to invest in the country stated that Tanzania has streamlined regulations which are easy to comply with along with use of technology for new business to register in Tanzania and incentive packages for the industry. “We are targeting $15 billion of FDI in Tanzania by the end of 2025. “Tanzania has done the best and we are here to extend a hand of collaboration to Indians. Tanzania is the country of the present and future,” she added.

The President further said Tanzania is strategically located and setting up of business in Tanzania gives the industry access to Southern and Eastern Africa with a large market. Manufacturing, real estate, transportation, tourism, agriculture services and human resources are some of the sectors which have immense potential, she added.

Mr Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Government of India said that India-Tanzania relations have been elevated to a strategic partnership, and it will continue to flourish in coming years. “Both nations have decolonized the economies and we in India are working to change the mindset of every Indian to start thinking big, bold in ambitions and work towards making India a developed nation by 2047 when we celebrate 100 years of Independence. India will continue to be a partner in progress and strengthen this relationship,” he added.

Mr Goyal reiterated that PM Modi also looks at the partnership between two modern nations as a very defining partnership. “We will rise together, recognize contributions and capabilities of the two countries, and we respect the people of Tanzania. We look forward to working with Tanzania for humanity, people, inclusivity, and sustainable growth,” he emphasized.

Mr Goyal further stated that both nations have 4 pillars on which the relationship can be further strengthened including Government to Government, Business to Business, People to People and working for the collective good of humanity. “India-Tanzania have large ambitions and Tanzania is India’s biggest export destination in Africa. We have a huge area of collaboration including tourism, information & technology, food security, healthcare and space sector. We are working to make it another fast-growing story in the next few years. India and Tanzania have big dreams to realize,” he added.

Dr Sangita Reddy, Past President, FICCI and Joint Managing Director, Apollo Hospitals Group said, “Today’s visit heralds a new chapter in our partnership and its outcomes. We are hopeful that the expected outcomes of this visit, like, exploring new areas of cooperation including in trade in local currencies, proposal to set up an Indian industrial park in Tanzania and provide vocational training facilities for Tanzanian youth in Tanzania, with the cooperation of India, will surely take our bilateral relations to even higher scales.”

Mr Ramesh Kumar Mutha, Managing Director, Mohan Mutha Exports and ASSOCHAM Representative, said that in the recent years India and Tanzania ties have evolved into a modern and pragmatic relationship with sound political understanding, diversified economic engagements, people to people contact in education and healthcare. India and Tanzania share vibrant, economic and business ties, he added.

Mr S.  Kuppuswamy, Co-Chairman, CII Africa Committee and Advisor, Group Finance and Special Projects, Shapoorji and Pallonji Group, said that India looks forward to furthering its relationship with Tanzania in particular and Africa in general.

Ms Angelina Ngalula, CEO, Tanzania Private Sector Foundation (TPSE), also shared her perspective on the future of India-Tanzania business relationship.