Diplomatic relations between India and Malawi continue bearing fruits in several areas with trade between the two countries hitting $170 million (about K297. 7 billion) in the 2024/25 financial year.

This was disclosed during an India-Malawi seminar in Blantyre on Wednesday attended by Indian and Malawian businesspeople led by Indian High Commissioner Amararam Gujar.

The event sought to bring together industry players and the business community to promote understanding on how Indian and Malawian companies can work together to establish “win-win partnership”.

Said Gujar: “During last financial year, the bilateral trade was registered around $170 million which is far lower  than the approximately $500 million before Covid-19 period.

“We can do a lot more together for the benefit of our people.”

He added that as India grows, the demand for all kinds of products, especially energy, technology and agro-food commodities is going to rise as part of the growing progress and prosperity.

According to Gujar, since 2009, India has offered $395.68 million lines of credits to Malawi that have been used in various projects.

Ministry of Trade and Industry Principal Secretary Christina Zakeyo said Malawi will continue providing a conducive environment for investors and acknowledged Indian investors operating in Malawi.

“In terms of trade we are doing well. We are exporting quite a number of products to India. There’s growth of trade between Malawi and India,” she said.

Zakeyo also said Malawian exports to India include macadamia nuts, pigeon peas and mangoes.

In an interview at the end of the event, Malawi Confederation Chambers of Commerce and Industry chief executive officer Daisy Kambalame said the two countries should do more to increase trade.

She said the growth in trade from $146 million in 2023/23 fiscal year to $170 million was not enough.

India and Malawi established diplomatic relations in 1964.