A new initiative aimed at revitalizing economic relations between India and South Africa has been launched. The India-SA Investment Network, introduced by the Consulate General of India in Johannesburg, seeks to enhance annual trade and investment, currently valued at USD 19 billion.
Consul General Mahesh Kumar underscored the need for better awareness and accurate information to facilitate investments. He announced collaborations with institutions like the Gordon Institute of Business Science and Johannesburg Business School to provide correct perspectives and connect investors with suitable opportunities.
The network aims to support Invest SA and Invest India by encouraging investments in sectors such as renewables, IT, and infrastructure. Kumar expressed confidence that start-ups in both countries would benefit from this closer association, fostering deeper conversations on potential investments.
Yunus Hoosen, CEO of Invest SA, emphasized the opportunities for mutual trade and investment, positioning South Africa as a regional manufacturing and services hub. Addressing the issue of visa delays for Indian business leaders, Hoosen committed to reforms to ease the process, garnering strong support from the audience.
Indian High Commissioner Prabhat Kumar highlighted India’s manufacturing sector’s evolution, urging South African business leaders to explore successful ventures like Naspers and Sanlam in India. Kumar also offered India’s assistance in procuring low-cost pharmaceuticals, advocating for greater public-private partnerships to boost investments.
Source: Rediff