South Africa-India Boost Economic Ties, Address Trade Deficit: Rediff Moneynews
South Africa-India Boost Economic Ties, Address Trade Deficit
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A South African delegation visits India to expand economic ties, address trade imbalance, and seek investment in manufacturing, pharma, and green energy.
Key Points
- A South African business delegation is visiting India to strengthen economic ties and tackle the existing trade deficit.
- The delegation aims to secure investments and expand higher-value exports in sectors like manufacturing, pharmaceuticals, and renewable energy.
- Discussions will focus on co-investment, technology collaboration, and positioning South Africa as a regional automotive production hub.
- The visit also seeks to leverage Indian technology for agro-processing and explore joint ventures in green hydrogen and skills exchange.
- SABBC emphasizes turning discussions into measurable transactions and highlights South Africa’s advantages for India’s growth.
Johannesburg, Sep 3 (PTI) A South African business delegation will visit New Delhi next week to explore opportunities to expand economic ties with India and address the trade imbalance between the two countries.
The South African BRICS Business Council (SABBC) will attend the BRICS Business Council and Business Forum meetings in New Delhi on September 10 and 11, ahead of the 18th BRICS Summit.
The SABBC, formed in 2013, promotes trade, investment, and public-private dialogue between South Africa and member nations, focusing on industrialisation, green energy, and African economic development.
The delegation will seek opportunities in advanced manufacturing, pharmaceuticals, digital services, agro-processing and renewable energy, with a focus on increasing higher-value exports and securing investment partnerships.
India remains one of South Africa’s most significant BRICS+ trading partners, accounting for 20.8 per cent of the country’s trade with the grouping in 2025.
However, South Africa recorded a trade deficit of approximately USD 3.18 billion, with its exports dominated by coal, manganese and chemical wood pulp, while imports were concentrated in petroleum, vehicles, pharmaceuticals and machinery.
The SABBC said it would use the trade imbalance as a “commercial mandate” to expand higher-value exports, secure investment partnerships and move the relationship beyond a buyer-seller model towards co-investment, technology collaboration and greater market access.
Among the issues on the agenda are using Indian technology and capital to position South Africa as a regional automotive production hub and developing partnerships in pharmaceuticals and medical devices to expand access across Africa.
The two sides are also expected to explore skills-exchange programmes in information technology, artificial intelligence and cybersecurity.
The delegation will seek to promote South African agricultural products in the Indian market while exploring the use of Indian processing and packaging technologies. Joint ventures in renewable energy and green hydrogen are also expected to be discussed.
SABBC Chairperson Busi Mabuza said the delegation would focus on turning discussions into “measurable transactions” through investment facilitation, business matchmaking and projects in energy, manufacturing, infrastructure and the digital economy.
She said the African Continental Free Trade Area (AfCFTA) offered BRICS partners opportunities to invest in infrastructure, industrial projects and regional value chains.
Mabuza also highlighted the role of the BRICS New Development Bank, saying it had approved more than R6.41 billion in financing for infrastructure and sustainable development projects in South Africa.
“India’s next phase of growth requires partners that can offer red innovation opportunities. South Africa has these advantages,” she said
Mabuza said recalibrating the relationship towards higher-value exports, investment partnerships and knowledge transfer could help generate employment in South Africa, strengthen its industrial base and build resilient supply chains for both countries.
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