India-Namibia trade rises to $592.94 million as ties deepen

India and Namibia have agreed to strengthen bilateral trade and economic cooperation, with merchandise trade between the two countries increasing to USD 592.94 million in 2025-26 from USD 568.40 million a year earlier.According to agency reports,the agreement was reached at the fourth session of the India-Namibia Joint Trade Committee (JTC), held in New Delhi on August 10-11. The meeting concluded with the signing of the Agreed Minutes by the co-chairs.
India’s exports to Namibia reached USD 349.09 million in 2025-26, while imports stood at USD 243.85 million. Services trade also expanded by 7.34 per cent to USD 380 million in 2024.Both sides agreed to reduce dependence on raw-material-based trade and encourage greater value addition and local processing in Namibia. They also decided to create mechanisms with clear timelines and responsibilities to implement the decisions taken during the JTC.
Engineering exports from India to Namibia surged 124.06 per cent to USD 30.24 million, largely supported by motor vehicles and components. Pharmaceutical and medical device exports reached USD 36.50 million, making India Namibia’s second-largest pharmaceutical supplier with a 16.4 per cent share.Investment, services and healthcare have been identified as key areas for expanding the partnership. Invest India and the Namibia Investment Promotion and Development Board will serve as investment focal points, while a dedicated Services Working Group is expected to meet by February 2027.
The two countries are also working to strengthen cooperation in healthcare and pharmaceuticals. The first meeting of the Joint Working Group under their health cooperation pact is expected by December 2026, while an agreement related to the Janaushadhi initiative is nearing finalisation.Critical minerals, including lithium, graphite, copper, cobalt and rare earth elements, were also discussed, with opportunities identified in exploration, processing and downstream beneficiation.
The countries reviewed cooperation on digital payments following the launch of Namibia’s UPI-based instant payment system, WayaMe, in June 2026. Discussions also covered a proposed FinTech cooperation framework between the Reserve Bank of India and the Bank of Namibia.India and Namibia further explored collaboration in railways, renewable energy, battery storage, transmission, green hydrogen, biofuels and desalination. Cooperation was also discussed in agriculture, food security, MSMEs, textiles, tourism and sports.
The two sides have finalised the Terms of Reference for an India-Southern African Customs Union Preferential Trade Agreement, with the terms scheduled for signing on August 12. Negotiations are expected to begin within a month and conclude within a year.The next JTC session is scheduled to take place in Namibia in 2028, with dates to be finalised through diplomatic channels.

(Business Correspondent)