Features of 22nd INDUSMACH AFRICA 2020
The INDUSMACH 2020 – East Africa’s largest International exhibition on Industrial Products, Equipment & Machinery. Over the past few years, Tanzania has emerged as a major regional trade centre. This is mainly due to the very friendly and businesslike atmosphere it offers to foreign investors and products. Duties are considerably low and re-exports to neighboring countries are either very low or exempted. This year TOOLS & HARDWARE AFRICA 2020 will be a concurrent Show with 22nd INDUSMACH AFRICA 2020. With more than 105+ exhibitors spread out over a 5,000 Sqm. of exhibition space, the 22nd INDUSMACH 2020 offers a nearly 60% increase in size from last year.
The Diamond Jubilee Expo Center, the venue of the event is one of the leading centers in East Africa that host the award winning and successful international business meetings, seminars and conferences every year. Being conveniently situated in the prime location the centre is easily accessible from various important places of the city.
Bilateral Trade India & Tanzania
Tanzania is one of the most important trading partners of India in the entire East African region. India-Tanzania bilateral trade has increased over the last few years. The total merchandise trade between the two nations reached US$ 2.61 billion in 2018-19 from US$ 2.58 billion, registering a growth of 1.1 percent.
Among the East African nations, Tanzania ranks as the second nation after Kenya, where India’s exports are quite high. India’s total exports to Tanzania US$ 1704 million in 2018-19, registering a year-on-growth of 23.1 percent. Like in case of merchandise trade, India’s also maintains a positive trade surplus in case of engineering goods with Tanzania. India’s engineering exports to Tanzania 2018-19 stood at US$ 316.2 million, registering a growth of almost 25 percent over 2017-18.
Engineering trade with Tanzania
India’s major engineering export items to the Tanzania are Products of Iron and Steel, Industrial Machinery for dairy, agriculture, food processing, textiles, paper, chemicals, etc. Electric Machinery and Equipment, Motor Vehicle /cars, and Two and Three Wheelers.
India’s export of industrial machinery and equipment to Tanzania has increased from US$ 42.3 million in 2017-18 to US$ 44.2 million in 2018-19, registering a growth of 4.5 percent. The growth in advancement and up-gradation of technology in machinery has been faster in India. With almost low technology offerings in the initial stage, the Indian machinery today is considered as one that can offer value added engineering with integration of new technologies. Various international companies found it cost effective to work with Indian partners in the form collaborative ventures.
Opportunity for Indian Engineering products & services
Both India and Tanzania have decided to deepen bilateral trade and investment partnership by encouraging greater industry to industry ties. The two nations recognized positive developments in terms of bilateral trade, investment and collaboration between the businesses in India and Tanzania in various areas and appreciated the contribution of the Indian duty free tariff preference scheme towards boosting considerably Tanzania’s exports to India in recent years. India’s development cooperation with African countries has evolved to include trade and investment, capacity building, technology transfer, and grants and concessional loans. At the same time, India is fostering development cooperation with African countries through initiatives such as the India-Africa Summits, becoming a member of the African Capacity Building Foundation, and launching the “Team 9” Initiative connecting India with francophone Africa.