India/SA set ambitious bilateral trade target

South Africa and India have
set a target of US $18bn for
bilateral trade between the two
countries by 2018, according
to president Jacob Zuma
and India’s prime minister,
Narendra Modi.
Delivering an address at the
South Africa-India Business
Forum held at the Council
of Scientific and Industrial
Research in Pretoria last Friday
(July 8), Zuma said South
Africa was looking to increase
and diversify its exports to
India.
“We have identified new
areas for market access
including the defence, deep
mining, renewable energy
and health sectors. Future
sectors identified for possible
cooperation include agroprocessing,
pharmaceuticals,
mining, water and waste
management, retail,
financing and infrastructure
development,” said Zuma.
Modi added that the
relationship between the
two countries rested on a
“common desire” to fulfil
the aspirations of its people.
“We have been friends and
adversaries. Now we should
franchise in opportunities.”
CAPTION
Namaste… India’s prime minister, Narendra Modi, arrived in South Africa last week for the
SA-India Business Forum.