India and Tanzania elevated ties to a Strategic Partnership, with IIT Madras Zanzibar as the first overseas IIT campus
Background
The Joint Trade Committee item elsewhere in today's country section runs inside this partnership, which is where the framework was set.
During the State Visit of Tanzanian President Samia Suluhu Hassan to India from 8 to 10 October 2023, the two leaders announced that relations were being elevated to a Strategic Partnership covering maritime security, defence, development partnership, and trade and investment.
The IIT Madras Zanzibar campus is the first overseas campus of IIT Madras.
India is among Tanzania's top five investment sources, with 630 registered projects worth USD 3.74 billion, which the joint statement says created 60,000 jobs.
About 98% of Tanzanian product lines enter India tariff-free under the Duty Free Tariff Preference scheme, and the two countries trade through Special Rupee Vostro Accounts.
A Technical Agreement on sharing White Shipping Information was signed, and an Indian Military Training Team is deployed at the Command and Staff College in Duluti.
In plain words
DFTP Duty Free Tariff Preference — India's scheme giving least developed countries duty-free access for most product lines.
Special Rupee Vostro Account Special Rupee Vostro Account — An account arrangement that lets two countries settle trade in Indian rupees instead of a third currency.
White Shipping Information White Shipping Information — Advance information exchanged between navies about commercial merchant shipping movements.