India-Namibia JTC Reviews Trade, Investment & Digital Payment Cooperation

New Delhi, Aug 12 (KNN) The Fourth Session of the India-Namibia Joint Trade Committee (JTC) was held in New Delhi on August 10-11, 2026, with both sides reviewing bilateral trade, investment and cooperation in key sectors.

The Indian delegation was led by Joint Secretary, Department of Commerce, Amit Kumar, while the Namibian delegation was headed by Ndiitah Nghipondoka-Robiati, Executive Director, Ministry of International Relations and Trade, Government of Namibia. The Agreed Minutes were signed on August 11.

Bilateral merchandise trade rose to USD 592.94 million in 2025-26 from USD 568.40 million in 2024-25. India's exports stood at USD 349.09 million, while imports from Namibia were USD 243.85 million. Trade in services increased by 7.34 per cent to USD 380 million in calendar year 2024.

India's engineering exports to Namibia increased by 124.06 per cent to USD 30.24 million, while pharmaceutical and medical device exports reached USD 36.50 million. India accounted for 16.4 per cent of Namibia's pharmaceutical imports.

The two countries designated Invest India and the Namibia Investment Promotion and Development Board as investment focal points and agreed to establish a Services Working Group, with its first meeting scheduled by February 2027.

The discussions also covered cooperation in critical minerals, including lithium, graphite, copper, cobalt and rare earth elements, as well as healthcare and pharmaceuticals. The first Joint Working Group under the bilateral health cooperation agreement is scheduled to meet by December 2026.

On digital payments, the two sides discussed the continued rollout in Namibia of an instant payment system based on India's Unified Payments Interface (UPI), launched as WayaMe on June 15, 2026. They also discussed a proposed FinTech Cooperation Framework between the Reserve Bank of India and the Bank of Namibia.

Cooperation was further discussed in railways and rolling stock, renewable energy, battery storage, transmission, green hydrogen, biofuels, desalination, agriculture, MSMEs, textiles, tourism and sports.

The Terms of Reference for the India-SACU Preferential Trade Agreement (PTA) were finalised and scheduled for signing on August 12, 2026. The Fifth Session of the India-Namibia JTC is scheduled to be held in Namibia in 2028.

(KNN Bureau)