Indian business delegation sees substantial growth potential

THERE IS substantial untapped growth potential for trade between India and South Africa, in the view of a business delegation from the Associated Chambers of Commerce and Industry of India (Assocham), which visited South Africa last month. Potential exports from India to South Africa have been identified as metal and mining, rice, agriculture, vehicles, transport equipment, drugs and pharmaceuticals, biotechnology, IT, BPO, computer software, telecommunications, engineering goods, footwear, chemicals, textiles, tourism, ceramics, gems and jewellery. Potential areas of import from South Africa to India include rock phosphate, precious stones, minerals, fertilisers, steel, coal, pulp and pulp manufacturing. The inaugural event took place at the Johannesburg Chamber of Commerce & Industry (JCCI) where Shri Navdeep Suri, consul general of India in Johannesburg, applauded Assocham for mobilising senior representatives of various sectors of Indian industry and trade and initiating personal dialogue between the investors, importers and exporters of the two countries. The five-day visit to Johannesburg and Pretoria included one-to-one business meetings, factory visits as well as interaction with decision-makers in the government and economic development agencies. A delegation of South African businessmen and investors is expected to undertake a reciprocal visit to India shortly, at Assocham’s invitation, for a buyer-seller meet and to look at opportunities for investment in India.