Namibia-India bilateral trade surges by 192% to N$15 billion

Namibia and India’s economic and diplomatic ties continue to strengthen, with bilateral trade reaching N$15.6 billion in the 2023/24 fiscal year – a 192% increase from the previous year.

This was announced by Rahul Shrivastava, India’s new high commissioner to Namibia, last week.

“In the 2022/23 year, India’s exports to Namibia increased by 88%, amounting to N$8.7 billion. Our bilateral trade has exhibited a remarkably positive trajectory.

“The total trade volume surged to US$813 million (about N$15 billion), reflecting an impressive growth rate of 192% in the 2023/24 fiscal year, as compared to the 2022/23 fiscal year”.

Shrivastava said bilateral development between Namibia and India continues to flourish.

“Last year, we extended over 230 training and scholarship opportunities across a diverse array of fields.

To date, more than 1 700 Namibian professionals, including 1 400 participants from the Indian Technical and Economic Cooperation programme, have benefited from training at Indian institutions,” he said.

Shrivastava said the government of India also dispatched humanitarian assistance consisting of 1 000 tonnes of rice and 1 000 tonnes of maize to Namibia in response to the severe drought.

“India has consistently been at the vanguard of support for Namibia, both prior to and following its independence.

“The enduring relationship between India and Namibia, founded on solidarity, shared concerns, and mutual support, has gained renewed momentum over the past year through high-level engagements and bilateral initiatives,” he said.

Meanwhile, deputy minister of international relations and cooperation Jenelly Matundu said Namibia considers India a strategic bilateral partner.

“I would like to point out that through Namibia’s extensive engagement with India, the government of India continues to be instrumental in helping the people of Namibia to make Vision 2030 a reality,” she said.

Matundu expressed the Namibian government’s thanks for the food donation.

“I am informed that the donation has arrived,” she said.

She said Namibia considers India a strategic bilateral partner, owing to the key role India played before and after the country’s independence.

“Both sides have shown significant commitment to expand cooperation in various areas, and as a result our bilateral relations have since grown in depth and strength, buttressed by mutual trust, solidarity, and true South-South cooperation.

“In recent years, we have witnessed some significant milestones in the development of this truly remarkable relationship. Testament to this, is the numerous high-level visits that have taken place in recent years,” she said.