Tanzania: India Eyes Investing in Local Automotive Industry
INDIA said it is looking at the possibility of partnering with Tanzania on investing in the construction of the automotive industry.
Through India High Commissioner to Tanzania Mr Binaya Pradhan in Dar es Salaam during one-day auto show over the weekend, seven India’s automakers took part displaying nine brands worth marketing in Tanzania.
He further said they are committed to working closely with the government by promoting the automotive industry in line with building the industrial economy.
“In the future, we are looking to partner with the government on investing in the construction of the automotive industry in the country to boost the country’s industrial sector,” he further said.
The envoy noted that they have been selling automotive products for a long time in the country, adding, “India is expected to be the world’s third-largest automotive market in terms of volume by 2026. The automobile industry of India currently manufactures 26 million vehicles including passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles. In three months to March, last year it exported some 4.7million cars.”
Citing one of the assemblers, he said Maruti Suzuki is the largest car manufacturer in the country, followed by Hyundai and Tata Motors as well as Kia India that is a relatively a new brand and Mahindra now on course.
In Tanzania, Tata markets commuter buses and leads in 35-50 passengers’ capacity seats.
On his part, the Ministry of Industry and Trade, Deputy Permanent Secretary, Dr Hashil Abdallah, said the government’s vision was to ensure a friendly environment for investors to invest in the country.
“Most of the automotive companies operate in the country import their products and assemble them here,” Dr Abdallah said adding: “The government is ready to support the investors’ business environment by following the rules set by the authorities to ensure that their businesses thrive and contribute to the country’s development agenda.”
He further applauded the Indian High Commissioner for organising the exhibition and assuring that the government will work hand-in-hand to develop the automotive sector.
By Daily News.
