Indian Delegation Visits South Africa for Trade and Investment Talks

The meeting was co-chaired by Malose Letsoalo, Chief Director, Bilateral Trade Relations, Department of Trade, Industry and Competition of South Africa, and Priya Nair, Economic Adviser, Department of Commerce, India. Delegates from the High Commission of India in South Africa, Department for Promotion of Industry and Internal Trade, and Ministry of Agriculture and Farmers’ Welfare also attended.

Key areas of potential collaboration included pharmaceuticals, healthcare, agriculture, micro, small and medium enterprises, and jewellery manufacturing. Topics discussed covered revival of the Chief Executive Officer Forum, investment cooperation, agricultural market access, recognition of Indian Pharmacopoeia, Local Currency Settlement System, fast payment systems, and India-Southern African Customs Union Preferential Trade Agreement.

Bilateral trade between India and South Africa stood at USD 19.25 Bn in 2023–24. Indian investments in South Africa from April 2000 to September 2024 exceeded USD 1.3 Bn, spanning sectors such as pharmaceuticals, information technology, automotive, banking, and mining.

The dialogue highlighted the strong and special relationship between India and South Africa.

Source: Ministry of Commerce and Industry, Press Information Bureau (PIB) Release