Department of Trade and Industry (the dti) to promote South Africa’s products and services during the Investment and Trade Initiative to India
The Department of Trade and Industry (the dti) will lead a delegation of twenty-six companies to showcase the best in South African products and services during the 7th annual Investment and Trade Initiative (ITI) to India from 22-26 February 2016. The mission to the Indian cities of Hyderabad and New Delhi forms part of the diversification strategy to focus on India as a high growth export market and foreign direct investment source for South Africa.
According to the Minister of Trade and Industry, Dr Rob Davies the aim for the ITI is to increase South Africa’s exports of value-added products into the Indian market and to explore joint-venture opportunities with Indian companies for investment projects.
“This will in turn contribute in meeting the broader objectives of the national industrial policy and the development of the South African economy,” says Davies.
Davies adds that trade between South Africa and India increased from R42 billion to over R90 billion over the 2010 to 2014 period and that exports from South Africa to India increased from R22 billion to over R40 billion in the same period.
“This is indicative of the high demand for locally manufactured value-added products in the Asian market and as a key-player in the regional economy, India also provides a good platform for South Africa to re-integrate with Western Asia,” says Davies.
The ITI will target the promotion of South Africa’s agro-processing (fruit juices, fresh and dried fruit), chemicals (agro-chemicals, and active pharmaceutical ingredients, mining (beneficiated metal products and jewellery) and capital equipment (mining equipment, safety equipment) sectors. Planned activities include trade and investment seminars, mini-exhibitions and business-to-business meetings.
Enquiries:
Sidwell Medupe
Departmental Spokesperson
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
Twitter: @the_dti
