Tata India is one of South Africa’s largest foreign investors. This has been said by the Minister of Trade and Industry, Dr Rob Davies. He was speaking tonight in New Delhi at a welcoming reception that was hosted by South African (SA) High Commissioner to India, Rev Harris Majeke in honour of the CEO’s who will be attending tomorrow’s meeting of the SA-India CEO’s Forum.
Davies said that although the bilateral trade between South Africa and India has experienced an upward trend between 2006 to 2010, growing from R16,3 billion to R43 billion respectively, it is unbalanced. South Africa is exporting primary goods whilst India is exporting value added goods to South Africa.
On an aggregated level, the top 10 exported products to India includes; coal, briquettes, solid fuels, manganese ores, copper ores, ferrous waste, scrap and scrap of iron amongst others. The top 10 imported products from India comprised of; Petroleum oils, motor cars/vehicles, telephone sets including telephones for cellular networks, equipment and motor vehicles for transporting goods.
Davies has urged the private sector to explore opportunities presented by the political and economic relationships that the two countries have forged.
The SA-India CEOs Forum is a platform for business community interaction between SA and India, and is co-chaired by Mr Patrice Motsepe and Mr Ratan Tata.
Enquiries:
Sidwell Medupe
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
Source: Department of Trade and Industry
Private sector urged to come up with projects that will enhance SA exports to India
