Trade between India and South Africa picked momentum in 2024 after a sluggish spell following the COVID-19 pandemic. The two countries also marked the 30th anniversary of the resumption of their diplomatic ties this year.
Bilateral trade totalled USD 19 billion in the year, surpassing the pre-pandemic figure.
“We hosted several high-profile Invest India events in partnership with local institutions. An India-South Africa Investment Network was formed to drive more connections and conversations among the investment community. We hosted several capacity-building sessions for South African entrepreneurs through India Entrepreneurs Forum,” India’s Consul General Mahesh Kumar said.
“With the India Business Forum, representing the 150 Indian companies with a presence in South Africa, we started sector-specific meetings to have more focused engagements with Indian businesses in South Africa,” he added.
At a seminar, he also urged South African investors to reconsider the need for Western countries to be the “mediators” for their investments in India. The event highlighted investment opportunities in both countries.
At the launch of the India-SA Chamber of Commerce (ISACC), South Africa’s Trade, Industry and Competition Minister Parks Tau said his country is committed to strengthening trade and investment with India.
Anil Sooklal became South Africa’s first Indian-origin ambassador to India after diplomatic relations were resumed in 1994, following an almost four-decade break as many countries shunned South Africa over its policy of apartheid.
Sooklal urged Indian businesses in South Africa and local businesses to stop working in silos and cooperate to maximise trade opportunities between the two countries.
India’s success in empowering its citizens to be part of the digital economy was highlighted at the seminar aimed at boosting the economic partnership with South Africa.
“We believe that Indian entrepreneurs are among the best in the world, with exceptional ability to build products at scale and value,” said Phuti Mahanyele, the CEO of South African global technology investment group Naspers, which has huge investments in India.
India’s Power Minister Manohar Lal Khattar attended the “Matla-Urja Energy Conference” in South Africa, where the delegates shared ideas on cooperation in the energy sector, and said India can help other countries towards self-sufficiency in the sector.
A memorandum of understanding for general-purpose cooperation was signed between the National Thermal Power Corporation (NTPC) of India and South Africa’s Eskom during the visit.
Twenty-two women engineers from South Africa visited India for training in solar panel manufacturing and installation.
Indian defence manufacturing companies participated in a three-day Africa Aerospace and Defence (AAD) expo at Waterkloof Air Force base in Pretoria, showcasing their products.
Mahindra South Africa, the local subsidiary of the Indian automotive and industrial giant, said its investment in the African nation had paid dividends as its Scorpio-N was named the top Adventure SUV at a prestigious competition.
India’s RailTel Corporation of India Ltd and two South African companies have also signed agreements expected to open new business opportunities for India in the telecom and railways sectors.
Zee Zonke, a channel started by Indian telecaster Zee Limited in South Africa for the majority Zulu-speaking community, became the highest-ranking outfit among the scores of pay TV channels in the country.
The then Deputy Minister of International Relations and Cooperation Candith Mashego-Dlamini also visited India in February to represent South Africa at the Raisina Dialogue 2024, themed “South Rising, Institutionalising a South First Approach at G20”.
In the coming year, South Africa is set to host the G20 Summit. Its theme is ‘Fostering solidarity, equality, and sustainable development’.
Some good news for mango lovers in South Africa: In 2023, the country finally allowed the import of Indian mangoes. The Indian consulate in Johannesburg held the ‘Bharat Mango Utsav 24’.
