Indian Economy News

Fourth Session of the India-Namibia Joint Trade Committee held in New Delhi

India and Namibia have strengthened bilateral trade and economic cooperation following the fourth session of the India-Namibia Joint Trade Committee (JTC), held in New Delhi on August 10–11, 2026. Bilateral merchandise trade increased to Rs. 5,240.12 crore (US$ 592.94 million) in FY2025-26, from Rs. 4,806.16 crore (US$ 568.40) million in FY2024-25, with India’s exports reaching Rs. 3,085.09 crore (US$ 349.09 million) and imports at Rs. 2,155.03 crore (US$ 243.85 million). India’s engineering exports to Namibia grew 124.06% to Rs. 267.25 crore (US$ 30.24 million), led by motor vehicles and components, while pharmaceuticals and medical device exports reached Rs. 322.57 crore (US$ 36.50 million). The two countries agreed to move bilateral trade beyond raw materials towards value addition in Namibia and identified investment, services, healthcare, critical minerals, gems and jewellery, digital payments, energy and infrastructure as key areas for deeper cooperation. 

The session also advanced several institutional mechanisms to support long-term economic engagement. Invest India and the Namibia Investment Promotion and Development Board were designated as investment focal points, while a dedicated Services Working Group will be constituted by February 2027. Cooperation in critical minerals will cover exploration, offtake, processing and downstream beneficiation of lithium, graphite, copper, cobalt and rare earth elements, supporting Namibia’s focus on value addition and employment generation. The two sides also discussed cooperation in railways, renewable energy, battery storage, transmission, green hydrogen, biofuels and desalination. India’s Unified Payments Interface-based instant payment system, launched in Namibia as WayaMe in June 2026, will be further developed through proposed fintech cooperation. The Terms of Reference for an India-Southern African Customs Union (SACU) Preferential Trade Agreement (PTA) were also finalised, with negotiations expected to commence following their scheduled signing on August 12, 2026. The fifth JTC session will be held in Namibia in 2028.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.