South African companies should take advantage of the growth and economic development in India
The Deputy Minister of Trade and Industry, Mr Mzwandile Masina and the Chief Minister of Indian State of Andhra Pradesh, Mr Sri Nara Chandra Babu Naidu agreed to cooperate in order to deepen trade relations and also exchange best practice models that could assist South Africa and India to advance economic development.
This emanated from the bilateral meeting that they held in Hyderabad, India where both parties agreed to explore areas where South Africa and India would explore cooperation investments, trade and infrastructure development.
Deputy Minister Masina said the meeting was significant as it discussed areas where South Africa and India could collaborate in different sectors that would create sustainable jobs and grow their economies of their countries.
“There are great opportunities offered by both countries to be explored in manufacturing, agriculture and infrastructure development. Telengana as a new state has a massive infrastructure plan that our companies could take part in and collaborate with the local Indian companies,” added Masina.
He said he was encouraged by Chief Minister Naidu’s work of moving the economy of Andhra Pradesh State up the value chain especially in-bio technology, pharmaceuticals, logistics and infrastructure roll-out, and that these were important areas where South Africa could collaborate with this state.
Masina extended an invitation to Naidu to lead a delegation of businesspeople to South Africa to also explore such partnerships.
Deputy Minister Masina arrived in Hyderabad, India on Sunday, 22 February 2015 where he is leading a delegation of twenty-five (25) South African businesspeople on the 6th annual India Investment and Trade Initiative (ITI). Today he will continue with the second leg of the ITI in Kolkata.
Enquiries:
Sidwell Medupe, Departmental Spokesperson
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
Twitter: @the_dti
