India and Rwanda identify new sectors for trade, investment cooperation

New Delhi: India and Rwanda have agreed to strengthen bilateral trade, investment and business cooperation during the first session of the India–Rwanda Joint Trade Committee (JTC) held in New Delhi on July 30 and 31. The meeting established a permanent mechanism to review trade, diversify the trade basket, promote investments and address market access and logistical issues.

The Indian delegation was led by Amit Kumar, Joint Secretary, Department of Commerce, while the Rwandan side was headed by Virgile Rwanyagatare, Director General in Rwanda’s Ministry of Foreign Affairs and International Cooperation. Addressing the inaugural session, Additional Secretary Yashvir Singh said the JTC would serve as a structured platform to deepen economic engagement between the two countries.

Both sides reviewed bilateral trade and agreed to enhance business-to-business engagement. India currently exports pharmaceuticals, automobiles, engineering goods, machinery and iron and steel products to Rwanda, while importing minerals, spices, tea, coffee, essential oils and precious stones.

The two countries identified critical minerals, pharmaceuticals, healthcare, digital technologies, agriculture, renewable energy, textiles, fintech and cybersecurity as priority sectors for future cooperation. India expressed interest in collaborating on Rwanda’s tin, tungsten and tantalum resources, while Rwanda highlighted investment opportunities in mining, agro-processing, ICT, manufacturing, tourism and affordable housing.

Recognising India’s position as Rwanda’s second-largest foreign investor, both countries designated Invest India and the Rwanda Development Board as investment focal points under the JTC framework. They also agreed to exchange information on trade fairs, business forums and buyer-seller meets to encourage commercial partnerships.

The meeting concluded with the signing of the Agreed Minutes on July 31. Both countries decided to hold the second session of the India–Rwanda Joint Trade Committee in Rwanda next year, reaffirming their commitment to expanding bilateral economic and strategic cooperation.