Indian investors eye partnership opportunities in Tanzania’s automotive industry
Indian investors on Monday said they are keen to pursue partnership opportunities in Tanzania’s manufacturing sector.
During a one-day auto show in Dar es Salaam over the weekend, seven Indian automakers displayed nine brands worth marketing in Tanzania.
According to the Indian High Commissioner to Tanzania, Mr. Binaya Srikanta Pradhan, India will embark on joint ventures with Tanzania to construct the nation’s automotive industry.
The commissioner further revealed they are committed to working closely with the government by promoting the automotive industry to build the industrial economy.
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“In the future, we are looking to partner with the government on investing in the construction of the automotive industry to boost the country’s industrial sector,” Pradhan said.
The commissioner cited some Indian assemblers, including Maruti Suzuki, Hyundai, and Tata Motors, as some of the largest car manufacturers in the country. He also mentioned Kia India and Mahindra as relatively new brands that are now on course to boost the country’s industrial sector.
India is expected to emerge as the third-largest Automotive market in the world in terms of volume by 2026, followed by China and USA.
According to reports, the automobile industry of India currently manufactures 26.36 million vehicles, including passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles in FY 2019-20. In three months to March, last year it exported some 4.7 million cars.
