The Deputy Minister of Trade and Industry, Mr Mzwandile Masina has arrived in Hyderabad, India where he is leading a delegation of 25 South African businesspeople on the 6th annual India Investment and Trade Initiative (ITI) scheduled to take place from 23 to 25 February 2015.
The objective of the ITI is to create market access for the South African value-added products, and services in India and to also promote South Africa as an attractive trade and investment destination.
Masina encouraged the delegation to maximise opportunities offered by the Indian market and to follow up on the economic opportunities and partnership with Indian companies based in Hyderabad.
“India has an interest in Africa, particularly South Africa. In their interaction, It is important that members of the South African business delegation inform their Indian counterparts about our government programmes aimed at achieving the industrialisation and localisation of our the economy with special focus on Broad-Based Black Economic Empowerment," said Masina
Masina’s programme will include bilateral meetings with the Chief Minister of Andhra Pradesh Mr Sri Nara Chandra Babu Naidu and meetings with potential investors in Business Processing Outsourcing (BPO), mining and the film industries. Tomorrow, Masina will address a business seminar hosted by the Indian government in partnership with the Hyderabad Chamber of Commerce.
Trade between South and India has increased significantly over the past eight years, growing more than five folds from R16.12 billion in 2006 to R90 billion in 2014. This growth was driven by major increase in the South African exports to India.
Enquiries:
Sidwell Medupe
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
