This article sets out the bilateral trade figures, Indian investment in Zimbabwe, the Indian companies operating there, business delegations and the official trade mechanisms, as recorded in the MEA bilateral brief of April 2026. The figures are those given in the brief and describe the position at the time it was prepared.

Trade figures

The brief states that Zimbabwe looks at India as an important trade and investment partner. According to the MEA brief of April 2026, bilateral trade in recent years (April-March, in million US$, source DGFT) was as follows:

  • 2021-22: exports to Zimbabwe 200.49, imports from Zimbabwe 7.77
  • 2022-23: exports to Zimbabwe 157.33, imports from Zimbabwe 9.18
  • 2023-24: exports to Zimbabwe 152.37, imports from Zimbabwe 16.55
  • 2024-25: exports to Zimbabwe 149.31, imports from Zimbabwe 17.68
  • 2025-26 (Apr 2025 - Jan 2026): exports to Zimbabwe 142.04, imports from Zimbabwe 5.59

The figure for 2025-26 covers only the months from April 2025 to January 2026.

Indian investment

The brief estimates Indian investments in Zimbabwe at US$ 600 million, and elsewhere puts the total in the vicinity of US$ 600 - 650 million. Indian companies have invested mainly in the beverages, pharmaceuticals and agro-processing industries.

The important Indian companies that have invested in Zimbabwe, as listed in the brief, are:

  • Varun Beverages (Zimbabwe) Ltd, a Joint Venture of Varun Beverages (India), part of RJ Corp, and a local company, Glaciem Pvt Ld
  • Surface Wilmar Private Ltd, a JV between Midex Global Pvt Ltd, Indore, and the Industrial Development Corporation of Zimbabwe
  • M/S Parrogate Industries / Agri Value Chain, which has also invested in David Whitehead Textile Mill
  • ZimGold/Pure Oil Industries
  • Raha Cooking Oil

There are also other small companies in mining, other manufacturing and service sectors, and investments by Indian investors from third countries, such as M/s Mount Meru.

Trade talks

A SoM was held in the Ministry of Commerce and Industry in New Delhi in February 2012, followed by the 2nd Joint Trade Committee meeting in Harare in March 2013. The third session of the India-Zimbabwe Joint Trade Committee was held in New Delhi on 13-14 May 2024.

Business delegations

The Embassy of India has, from time to time, organised visits to Zimbabwe by trade delegations from Indian Chambers of Commerce. Recent delegations recorded in the brief are:

  • an 11-member CII delegation in October 2024
  • a FICCI-led Indian business delegation at the 65th edition of the Zimbabwe International Trade Fair (ZITF) in Bulawayo in April 2025
  • a 10-member CII-led business delegation in February 2026

India-Africa business conclaves

During his visit in March 2018, Vice President Chiwenga attended the 13th edition of the CII-Exim Bank Conclave on India-Africa Project Partnership. The brief states that Zimbabwe has since sent high-level delegations to CII-EXIM Bank Conclaves, including in 2023. Vice President Chiwenga led the Zimbabwean delegation to the CII-EXIM Bank India-Africa Conclave in 2024 and again to the 20th CII India-Africa Business Conclave in August 2025.

Ms. Monica Mutsvangwa, Minister of Information, Publicity and Broadcasting Services, Dr. John Mangwiro, Deputy Minister of Health & Child Care, and Mr. C. Chiduwa, Deputy Minister of Finance, visited India for the CII Exim Bank Conclave on India-Africa Growth Partnership in July 2022.

Trade fairs and investment summits

Mr. Raj Modi, Deputy Minister of Industry and Commerce, has represented Zimbabwe at several business events in India:

  • the SVUM 2024 International Trade Show at Rajkot, Gujarat, from 11-15 February 2024
  • the Madhya Pradesh Global Investors' Summit, from 24-25 February 2025, where he led the Zimbabwean delegation
  • the Global Investment and Tourism Expo and Chalo Zimbabwe, organised by the Southern Gujarat Chamber of Commerce & Industry (SGCCI) in Surat, in August 2025
  • the 20th CII India-Africa Business Conclave in August 2025, as part of the Vice President's delegation
  • the India & Zimbabwe India Trade Conference in Kerala in August 2025, where he led a delegation

Other business visits

First Lady Mme. Amai Auxilia Mnangagwa, who is also the Health Ambassador, visited India from 10-15 June 2024 for investments and business dealings with KIMS Hospital, Hyderabad.

Davis Marapira, Deputy Minister of Lands, Agriculture, Fisheries, Water, Climate and Rural Development, took part in the 4th Edition of World Food India in September 2025.

The Exim Bank of India buyer's credits used to supply vehicles and mining equipment to Zimbabwe are described in the development partnership article.