Indian delegation strengthens ties with South Africa to boost trade
- A nine-member Indian delegation held discussions in Pretoria, South Africa, focusing on bilateral trade and investment.
- Officials addressed various sectors, including pharmaceuticals and agriculture, highlighting the significance of trade ties.
- The collaboration aims to resolve outstanding trade issues and leverage untapped potential for mutual benefit.
In an effort to enhance economic relationships, a nine-member delegation from India visited Pretoria, South Africa on April 22-23, 2025. The group, led by Economic Adviser Priya Nair from the Department of Commerce, attended the second session of the India-South Africa Joint Working Group on Trade and Investment. Participating officials discussed various vital topics aimed at bolstering bilateral trade, which currently stands at USD 19.25 billion for the 2023-24 period, and resolving existing trade challenges between the two nations. South Africa is recognized as India's largest trading partner on the African continent, making these discussions particularly significant. The Indian side highlighted key sectors of collaboration during the talks, including pharmaceuticals, healthcare, agriculture, MSMEs, and jewelry manufacturing. Both countries realized the potential for improving their economic relationship and committed to addressing outstanding trade issues. Indian investments in South Africa have surpassed USD 1.3 billion since April 2000, spanning various industries such as pharmaceuticals, information technology, automotive, banking, and mining. In addition, the two countries discussed the revival of the CEO Forum, investment cooperation, and recognized potential pathways for agricultural market access. They outlined plans for improving payment systems and potential agreements regarding currency settlements. The commitment to enhancing trade ties shows a strategic focus on tapping into the mutual benefits available in their economic interaction. The joint deliberations underscore a clear focus on increasing trade and investment opportunities, as both countries acknowledge the significant untapped potential. As economic dynamics continue to shift globally, the strengthening of bilateral relations between India and South Africa reflects an awareness of the urgent need for collaboration in both trade and investment, demonstrating a proactive approach to fostering economic growth and prosperity within both nations.