India sees Tanzania as a 'symbol of the evolving aspirations of a resurgent Africa', in the words of former president A.P.J. Abdul Kalam who visited the East African country in 2004.

Tanzania, home to the first commercial wind farm in sub-Saharan Africa, has shot 13 places up the World Economic Forum's global economic competitiveness list, largely due to improved security and an improving environment for the private sector.

Tanzania's robust and steady economic performance, coupled with stability and strong institutions, have attracted considerable Indian business and investment.

According to Tanzanian government statistics, during 1990-2006, 118 companies with 'Indian interest' have invested $825 million in Tanzania.

Reliance Industries Ltd has acquired a majority stake and management control of major oil company Gulf Africa Petroleum Corporation.

Other major Indian companies with a presence in Tanzania include Bank of Baroda with branches in Dar es Salaam and Arusha; Air India; Tata International, which has a MoU with the National Development Corporation of Tanzania for setting up a soda ash factory at Lake Natron; and National Mineral Development Corporation.