According to Prime Minister Kassim Majaliwa, India invested USD 3.68 billion in Tanzania during the previous fiscal year.

A total of 630 projects were registered by the Tanzania Investment Centre (TIC) during that time, according to Mr. Majaliwa, who met with a team from the Indian Parliament (Lok Sabha) that was led by the Speaker of that Asian nation, Om Birla.

The government's efforts to enhance the investment climate under President Samia Suluhu Hassan are what led to this, the Premier stated.

According to Mr. Majaliwa, Tanzania and India enjoy close economic ties. In his estimation, India will rank as Tanzania's third-largest trading partner in 2021–2022, with bilateral trade totaling USD 4.58 billion. We all gain benefits equally because of our nearly equal trade ratio, he claimed

Tanzania and India participate in a variety of economic industries, including trade, technology, energy, water, and health.

Over six million Tanzanians are anticipated to benefit from the USD 500 million in water projects that Indian businesses and the government agreed to implement in 28 cities in June 2022. On the other hand, Mr. Birla asserted that the Indian Parliament would support bilateral cooperation for the long term.

"We congratulate President Samia Suluhu Hassan for her excellent leadership, which has accelerated economic growth and implemented massive projects," he remarked on behalf of the Indian Parliament.

During their three days in Tanzania, Mr. Birla and his delegation will also visit tourist attractions like national parks and beaches.