India-Namibia JTC: Trade hits $592 mn, critical minerals and UPI on agenda
Synopsis
India and Namibia have moved well beyond a raw-material trade relationship — committing to joint critical mineral processing, a UPI-powered payments system already live as 'WayaMe', and a time-bound preferential trade deal with the Southern African Customs Union. With engineering exports up 124% and India already Namibia's second-largest pharma supplier, the JTC's latest session signals a strategic deepening that few bilateral frameworks in Africa have matched this year.
Key Takeaways
India-Namibia bilateral merchandise trade rose to $592.94 million in 2025-26 , up from $568.40 million the previous year.
Structured cooperation agreed on critical minerals including lithium, graphite, copper, cobalt , and rare earth elements .
Invest India and Namibia Investment Promotion and Development Board designated as JTC investment focal points.
UPI-based payment system 'WayaMe' , launched in Namibia on 15 June 2026 , to be further rolled out; FinTech framework between RBI and Bank of Namibia proposed.
India-SACU Preferential Trade Agreement terms finalised; signature scheduled for 12 August 2026 , negotiations to conclude within one year.
India's engineering exports to Namibia surged 124.06 per cent to $30.24 million ; pharma exports reached $36.50 million .
India and Namibia have agreed to restructure their bilateral trade relationship — shifting away from a raw-material-dominant composition toward value-added commerce — following the conclusion of a two-day Joint Trade Committee (JTC) session in New Delhi on Tuesday, 12 August 2026. The talks produced concrete commitments spanning critical minerals, green energy, digital payments, pharmaceuticals, and a new preferential trade framework with the Southern African Customs Union.
Key Developments from the JTC Session
The two delegations agreed to designate Invest India and the Namibia Investment Promotion and Development Board as joint investment focal points under the JTC, each with a named official to anchor coordination. A dedicated Services Working Group is also to be constituted, with its first meeting mandated no later than February 2027 and a work plan to follow.
On critical minerals — a sector of growing strategic weight globally — structured cooperation has been identified across exploration, offtake, processing, and downstream beneficiation of lithium, graphite, copper, cobalt, and rare earth elements. This aligns with Namibia's stated priorities of local value addition and employment creation, rather than exporting unprocessed ore.
Trade Figures and Sectoral Highlights
Bilateral merchandise trade between the two countries rose to $592.94 million in 2025-26, up from $568.40 million in 2024-25. India's exports stood at $349.09 million against imports of $243.85 million. Trade in services expanded by 7.34 per cent to $380 million in calendar year 2024.
India's engineering exports to Namibia surged by 124.06 per cent to $30.24 million, led by motor vehicles and components. Pharmaceutical and medical device exports reached $36.50 million, with India holding a 16.4 per cent share of Namibia's pharmaceutical imports — making it Namibia's second-largest pharmaceutical source.
Digital Payments, Health, and Energy Cooperation
The session reaffirmed commitment to the continued rollout of India's Unified Payments Interface (UPI)-based instant payment system, launched in Namibia as 'WayaMe' on 15 June 2026. Proposals are also on the table for a FinTech Cooperation Framework between the Reserve Bank of India (RBI) and the Bank of Namibia.
In health, the first Joint Working Group under the Memorandum of Understanding on Cooperation in Health and Medicine is to be convened by December 2026. The Janaushadhi cooperation agreement with HLL Lifecare Limited is reportedly at an advanced stage of finalisation. Closer cooperation was also identified in railways and rolling stock, solar and wind power, battery storage, green hydrogen, biofuels, and desalination.
Diamonds, Trade Zones, and the India-SACU PTA
Namibia has been invited to participate in India's Special Notified Zones at Surat and Mumbai and in the India Rough Gemstones Sourcing Show, alongside training support in diamond cutting, polishing, and jewellery design. The terms of reference for the India-SACU Preferential Trade Agreement (PTA) were finalised and scheduled for signature on 12 August 2026, with negotiations to begin within one month of signing and conclude within one year.
The Indian delegation was led by Amit Kumar, Joint Secretary, Department of Commerce; the Namibian side was headed by Ndiitah Nghipondoka-Robiati. The Fifth Session of the JTC is scheduled to be held in Namibia in 2028, on dates to be agreed through diplomatic channels.
Point of View
Cobalt, and rare earths — positions India to secure upstream supply chains at a time when the global scramble for battery-economy inputs is intensifying. The UPI 'WayaMe' rollout is equally notable: it is India's clearest proof-of-concept for exporting its digital public infrastructure to Africa, a template that could be replicated across the continent. The one caveat is execution — previous India-Africa bilateral frameworks have produced detailed communiqués without proportionate follow-through. The time-bound clauses (Services Working Group by February 2027, health JWG by December 2026, SACU negotiations within a year) are a structural improvement, but only verifiable outcomes will distinguish this JTC from its predecessors.
NationPress
12 Aug 2026
Frequently Asked Questions
What was agreed at the India-Namibia Joint Trade Committee meeting in August 2026?
The two-day JTC session in New Delhi concluded on 12 August 2026 with agreements covering critical mineral cooperation, digital payments expansion via UPI, pharmaceutical working groups, green energy collaboration, and the finalisation of an India-SACU Preferential Trade Agreement. Investment focal points were also designated on both sides to anchor follow-through.
How much is bilateral trade between India and Namibia?
Bilateral merchandise trade reached $592.94 million in 2025-26, up from $568.40 million in 2024-25. India exported $349.09 million worth of goods and imported $243.85 million. Trade in services grew 7.34 per cent to $380 million in calendar year 2024.
What is the 'WayaMe' payment system and how does it relate to UPI?
'WayaMe' is Namibia's instant payment system built on India's Unified Payments Interface (UPI) infrastructure, unveiled on 15 June 2026. The JTC session reaffirmed its continued rollout and flagged proposals for a broader FinTech Cooperation Framework between the Reserve Bank of India and the Bank of Namibia.
What is the India-SACU Preferential Trade Agreement?
The India-SACU PTA is a preferential trade framework between India and the Southern African Customs Union. Its terms of reference were finalised at the JTC session and scheduled for signature on 12 August 2026, with negotiations to begin within one month and conclude within one year.
Which critical minerals are covered under India-Namibia cooperation?
The two countries have identified structured cooperation across lithium, graphite, copper, cobalt, and rare earth elements — covering exploration, offtake, processing, and downstream beneficiation. The framework aligns with Namibia's priorities of value addition and local employment rather than raw-material exports.
