This article covers trade and investment between India and Tunisia: bilateral trade figures, the main goods traded, the Tunisia-India fertilizer joint venture, Indian companies in Tunisia and the mechanisms that review economic ties. It is based on the MEA brief of April 2026, and figures are given as they appear there.

Bilateral trade

According to the MEA brief of April 2026, bilateral trade has remained steady, reaching US$ 521.71 million in 2024-25. During April 2025 to January 2026, total trade stood at US$ 449.56 million, comprising Indian exports of US$ 316.76 million and imports from Tunisia of US$ 132.80 million. The brief cites the Department of Commerce as its source.

The brief describes India as a key trading partner for Tunisia, accounting for nearly 50% of Tunisia's global phosphoric acid exports. Tunisia's principal exports to India include inorganic chemicals and fertilizers. India exports automobiles, electrical equipment, machinery, cotton, rice, coffee, spices and sugar.

The USD 1 billion target

During the 12th Session of the Joint Commission Meeting in New Delhi in October 2017, both sides set a target of achieving USD 1 billion in bilateral trade within five years. The brief states that this goal remains to be achieved.

At the 6th Session of Foreign Office Consultations in Tunis in March 2026, both sides agreed on the need for focused efforts to expand and diversify bilateral trade to reach the $ 1 billion target. They also agreed to expand cooperation in emerging areas such as fertilizer, agriculture, water management, renewable energy and digital public infrastructure.

The brief sees considerable potential under the 3T (Trade, Technology and Training) initiative to deepen cooperation in trade and investment, digital public infrastructure such as Aadhaar and Unified Payments Interface, renewable energy including through the International Solar Alliance, and capacity building to support Tunisia's economic modernisation.

Tunisia-India Fertilizer Joint Venture

The Tunisia-India Fertilizer Joint Venture (TIFERT) was established in Skhira in 2006. It is a collaboration between two Tunisian state-owned companies, M/s Compagnie des Phosphates de Gafsa (CPG) and M/s Groupe Chimique Tunisien (GCT), and two Indian partners, M/s Gujarat State Fertilizers Corporation (GSFC) and M/s Coromandel International Limited (CIL).

In this USD 465 million project, GSFC and CIL each hold a 15% equity stake, while the remaining 70% is jointly held by GCT and CPG. TIFERT became operational in 2013. The brief describes it as a flagship project to produce phosphoric acid, with an expected capacity of 360,000 tonnes annually.

Indian companies in Tunisia

The brief describes Indian companies as having a strong presence across sectors in Tunisia:

  • automotive assembly: Mahindra and Tata Motors
  • software: KPIT Technologies
  • infrastructure: Larsen & Toubro and Kalpataru
  • pharmaceuticals: Dr. Reddy's and Advans Pharma
  • water desalination: Va Tech Wabag

An Indian company, M/s Jakson Green, has been awarded an EPC contract for a 100 MW Solar PV Project in Kairouan Governorate of Tunisia.

Economic working groups

India and Tunisia maintain Joint Working Groups (JWGs) in several economic sectors. The brief gives the latest meetings as follows:

  • Trade and Investment: 1st virtual meeting on 15 December 2020, with the 2nd meeting proposed for 11-12 May 2026 in New Delhi
  • Drugs and Pharmaceuticals: 7th meeting held virtually on 14 January 2022
  • ICT: 2nd session in New Delhi on 29 June 2015
  • SMEs: 3rd meeting in New Delhi on 2 April 2014
  • Textiles and Handicrafts: 1st meeting in Tunis on 16-17 March 2009
  • Oil and Natural Gas: 1st meeting in New Delhi in August 2007

When Foreign Minister Khemaies Jhinaoui led the Tunisian side to the 12th JCM in October 2017, he was accompanied by a 12-member business delegation that held meetings with CII, FICCI and FIEO.

Agreements under negotiation

Agreements on avoidance of double taxation, preferential trade and bilateral investment are among those listed in the brief as in process; the full list is in the relations article.