Deputy President Paul Mashatile says South Africa has secured commitments from Indian business leaders to expand investments in key sectors of the economy following the successful conclusion of the first leg of his working visit to India.
Addressing members of the media on Tuesday upon the
The Deputy President is leading a delegation of Ministers and Deputy Ministers on a working visit aimed at deepening bilateral relations and positioning South Africa as a preferred investment destination.
“We have come to the capital of India to build on the long-standing friendship and partnership between our two countries. Currently, India ranks among the top 10 investing countries in South Africa.
“The purpose of this visit has been to strengthen our trade and investment relations. As such, we engaged business associates, current investors in South Africa and India, and those who want to invest in our country,” Deputy President Mashatile said.
During the first leg of the visit, Deputy President Mashatile held high-level engagements with Indian leaders, including Vice President Chandrapuram Ponnusami Radhakrishnan and President Droupadi Murmu.
The discussions focused on strengthening cooperation in trade, investment, skills development, infrastructure and multilateral cooperation.
According to Deputy President Mashatile, the engagements reaffirmed the historic relationship between the two countries and highlighted opportunities for greater collaboration in trade diversification, investment promotion and skills development.
“Our meetings reaffirmed our historic common bond of cooperation and friendship between South Africa and India and the deep cooperation in the areas of trade diversification, investment promotion, skills development, and multilateral cooperation in such areas as BRICS, IBSA, the G20, and the United Nations,” the Deputy President said.
He said both countries were seeking to align their cooperation with Africa's Agenda 2063 and India's Viksit Bharat 2047 vision to advance inclusive growth and development across the Global South.
A key component of the visit was engagement with Indian business leaders and investors.
Deputy President Mashatile delivered a keynote address at the Global Trade and Technology Council of India (GTTCI) Business Round Table and met with representatives of the National Association of Software and Services Companies (NASSCOM), one of India's leading technology industry organisations.
“There was consensus on South Africa and India transitioning from dialogue to action, aiming to transform historic solidarity into a future-oriented partnership centered on innovation, industrialization, and shared prosperity,” he said.
The South African delegation also met with major Indian companies operating in sectors including energy, water, infrastructure, agriculture and information and communications technology.
These included Mahindra Group, Jindal Power, IGT Solution, Thermax and UFlex.
“Our discussions focused on expanding investment footprints in South Africa in sectors such as renewable energy, automotive manufacturing, mining, and infrastructure,” he said.
The parties also explored opportunities to strengthen cooperation in agricultural exports and agro-processing, mineral beneficiation and vaccine manufacturing.
Outcomes
Among the major outcomes of the visit was a commitment by Indian industry leaders to increase investments in South Africa, particularly in clean energy, pharmaceuticals, ICT and automotive components.
Deputy President Mashatile also welcomed progress on agricultural trade following India's notification of in-transit cold treatment for South African citrus exports.
The development is expected to create new opportunities for South African citrus producers seeking greater access to the Indian market.
The Deputy President said the visit had further strengthened cooperation between the two countries on reforming global institutions and advancing the interests of developing nations through multilateral platforms.
He noted that South Africa and India had also agreed to deepen people-to-people relations, recognising the strong cultural and historical ties between the two countries.
“This visit has laid a solid basis for greater cooperation and development of a better future for all. It has positioned South Africa as India's gateway into Africa under the African Continental Free Trade Area, while reinforcing our role as a reliable partner in advancing the development agenda of the Global South,” he said.
Second leg
The second leg of Deputy President Mashatile's visit will take him to Hyderabad, where he is expected to engage leaders in the pharmaceutical and information technology sectors.
The discussions will focus on expanding partnerships that support innovation, youth employment and economic growth.
“I committed myself to growing investment in South Africa and to building mutually beneficial relationships with India, rooted in shared prosperity. Our business in South Africa and India will be facilitated," the Deputy President said.
The Deputy President expressed optimism about the future of bilateral relations and indicated that further engagements would follow.
“As the second Deputy President of South Africa to visit India, I want to affirm that though this trip is my first visit, it is the beginning of many to come. I look forward to returning to India in the near future to further strengthen our relations, deepen our economic partnership, and advance sustainable development,” he said.
Deputy President Mashatile concluded by thanking the Government and people of India for their hospitality during the visit. – SAnews.gov.za
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