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The trade relations between India and South Africa have done exceedingly well recently. The target set by the leaders of both countries was USD 10 Billion. The actual numbers have exceeded to USD 11.6 billion. Consul General Anju Ranjan announced the results at the reception on the occasion to celebrate the 73rd Republic Day of India.

"India-South Africa trade has crossed the landmark. We have achieved the 100 per cent target and now it has increased from USD 10 billion to USD 11.6 billion," Ranjan said. The exemplary results have been achieved despite the restriction posed by the Covid-19 pandemic in India and South-Africa. In midst of the Covid-19 pandemic many commercial activities were organised at both countries to promote the trade activities, like organizing the virtual exhibitions and buyer-seller meets. Business activities in ceramics, telecom, agriculture, printing and textiles sectors were promoted as a part of the agreement between both countries to improve bilateral trade.

In order to ensure the continuity, meetings were organised continuously between the trade partners between both countries. Delegations were sent to India for physical buyer-seller meets and exhibitions for food processing and handicrafts." Many new ties were forged

through visits to the various provinces of South Africa.

 

The next focus will be on new business avenues like spices, IT, telecom, mining, pharma and textiles. Jaideep Sarkar, High Commissioner appreciated efforts of the Indian companies who were contributing to the economic development of South Africa. He further commented "I am happy to say that over 150 Indian companies have invested more than USD 10 billion in South Africa, employing over 20,000 South African nationals. These companies bring critical skills, technology and entrepreneurship and create jobs, income and wealth for both India and South Africa,".

In his message Sarkar also congratulated the global Indian diaspora, which he said is now an influential community.

The trade relations of India and South Africa were kick-started in 1997 at Red Fort Declaration signed by the late president Nelson Mandela and then Indian prime minister HD Deve Gowda, shared Maropene Ramokgopa, Special Adviser on International Relations to President Cyril Ramaphosa and a former Consul General in India. After that there were successful trade relations between two countries.

"The Red Fort Declaration has really been able to assist us to be able to reach a lot of bilateral trade and also broad policies that we share today. If it was not for that declaration, I do not believe that we would have been able to be where we are today," she said. “India and South Africa have been working together to reshape the international agenda in many international groupings, from the corporate world to the G20,” Ramokgopa added.

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