The International Trade Centre (ITC) is implementing Supporting India's Trade Preferences for India (SITA) project, which is funded by the United Kingdom government. It aims to increase exports of a variety of goods to Ethiopia, Kenya, Rwanda, Uganda, and the United Republic of Tanzania, including coffee, cotton, textiles, and leather as well as edible and essential oils, spices, and business process outsourcing and IT-enabled services. Under the preferential tariff treatment New Delhi grants to all nations classified as least developed, with the exception of Kenya, the other nations get privileged access to the Indian market.

 

The chairman of the Mwanza Region of the Tanzania Chamber of Commerce, Industry and Agriculture and a board member of the Leather Association of Tanzania remarked at the conference that while there are enough raw materials available in Tanzania, there aren't many firms to process them.

 

According to a previous report by the World Commerce Organization (WTO) and the Confederation of Indian Industry (CII), during the past ten years, trade between India and Africa has risen in tandem with South-South trade and investment. Even throughout the economic crisis, bilateral commerce grew at a healthy 31.8 percent yearly. One of the main sources of commerce is the trading of natural resources. Although its exports to India account for only 2% of Africa's total exports by value, East Africa is the largest regional market for Indian goods among the continent's regions, with a proportion of 34%.

 

Vegetables, iron and steel, coffee, edible nuts, especially shelled cashew, inorganic chemicals, and vegetables are the region's top export products. There is an opportunity for value addition and intra-industry trade between East Africa and India in areas including leather, clothing, drinks, diamonds, metals, and ores. Several Indian businesses are considering allocating time and money to the skill-building of young people in East Africa as a way to increase commerce at the moment.