Union Commerce and Industry Minister Piyush Goyal with South <a href="https://absafricatv.com/africa-financial-inclusion-summit-and-expo-2026/” title=”Africa Financial Inclusion Summit and Expo 2026″>Africa Trade, Industry and Competition Minister Parks Tau during a meeting on the sidelines of the BRICS 2026 Trade Ministers’ Meeting, in Jaipur, Rajasthan. Image credit/PTI
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Union Commerce and Industry Minister Piyush Goyal on Thursday said India and South Africa have discussed about growing bilateral collaboration in vital minerals, pharmaceuticals, and manufacturing following a meeting with Parks Tau, South Africa’s Minister of Trade, Industry, and Competition, on the sidelines of the BRICS 2026 Trade Ministers’ Meeting in Jaipur.
In his official X handle, Goyal wrote, “We discussed the signing of Terms of Reference (ToRs) for India-SACU PTA and early conclusion of negotiations, strengthening the India-South Africa trade engagement and explored opportunities for cooperation in the critical minerals, pharmaceuticals and manufacturing sectors.”
The ministers also talked about advancing negotiations and evaluated the status of the proposed Preferential Trade Agreement (PTA) between India and the Southern African Customs Union (SACU).
As part of its BRICS Presidency, India is hosting the BRICS 2026 Trade Ministers’ Meeting in Jaipur. The purpose of the meeting to boost trade and economic cooperation, encourage innovation, create robust value chains, and advance sustainable industrial growth.
The talk on critical minerals comes as India looks to establish reliable supply chains for renology, and other key industries
According to data compiled by the India Africa Entrepreneurship Forum (IAEF), trade between India and Africa has increased from USD 7 billion in 2001 to more than USD 98 billion in 2023, while cumulative Indian investment in Africa has surpassed USD 75 billion, largely in telecommunications, pharmaceuticals, infrastructure, and agriculture.
The combined economic potential of Africa and India is estimated to be close to USD 7 trillion, with growing prospects in manufacturing, digital infrastructure, healthcare, artificial intelligence, fintech, and climate technologies, added IAEF.
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Tags :#AfricaIndiaTrade#BRICS2026#PTANegotiations#TradeCollaboration#VitalMineralsEconomicCooperationIndiaSouthAfricaManufacturingpharmaceuticalsSacu
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