Trade between Zimbabwe and India has increased to an average of US$200 million per year reflecting commitment by the two countries to increase bilateral economic ties.

Data made available at a business forum for the two countries on Monday shows despite growth in trade volumes, India is, however, enjoying a surplus.

India ambassador to Zimbabwe Mr Rungsung Masakui said local companies should explore trade and business opportunities in the Asian country.

“Trade and business ties are critical in harmonising growth for the two economies,” said Mr Masakui.

The Special Advisor to the President Ambassador Chris Mutsvangwa says government will continue to forge trade alliances with India.

“We shall do our best to increase trade ties and unlock more growth opportunities,” said Ambassador Mutsvangwa.

Industry, Commerce and Enterprise Development Minister Dr Mike Bimha says increased exports to the Asian economy are also critical in solving the huge import bill and foreign currency challenges affecting the economy.

“Opportunities are there and it is just what we need to do to unlock more opportunities,” Dr Bimha said.

India’s exports to Zimbabwe include industrial equipment, pharmaceuticals and processed commodities, while the Asian nation buys cotton and other agro-based products from the country.