India has said that it is considering collaborating with Tanzania to invest in the automobile industry's construction.
According to Mr. Binaya Srikanta Pradhan, Indian High Commissioner to Tanzania, India would form joint ventures with Tanzania to strengthen the country's automotive sector.
He also stated that they are determined to working closely with the government in order to promote the automobile sector in accordance with the development of the industrial economy.
"In the future, we hope to work with the government to invest in the development of the country's automotive industry in order to enhance the country's industrial sector," he said.
The ambassador stated that they have been selling automotive goods in the nation for a long time, and that "India is predicted to be the world's third-largest automotive market in terms of volume by 2026. India's car industry now produces 26 million vehicles, which include passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles. Last year, it shipped 4.7 million automobiles in the three months to March."
According to one of the assemblers, Maruti Suzuki is the country's top automobile maker, followed by Hyundai and Tata Motors, as well as Kia India, a relatively new brand, and Mahindra, which is currently on track.
Tata is the market leader in commuter buses with seating for 35-50 people in Tanzania.
Dr Hashil Abdallah, Deputy Permanent Secretary at the Ministry of Industry and Trade, stated that the government's objective is to provide a welcoming atmosphere for investors to invest in the nation.
"Most of the automotive companies that operate in the country import their products and assemble them here," Dr Abdallah said, adding that "the government is ready to support the investors' business environment by adhering to the rules set by the authorities to ensure that their businesses thrive and contribute to the country's development agenda."
He told the Indian High Commissioner that the government will work together to strengthen the automotive sector.
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