India and SA in deal to strengthen trade ties at business summit
TIES between South Africa and India were strengthened with the signing of a memorandum of understanding aimed at growing the economic and trade partnership between the two Brics countries.
The deal was struck at a business summit in Sandton at the weekend that included SADC countries Lesotho, Botswana, Zambia and Mozambique.
Key issues concerning trade, investment and the promotion of business were compiled into a report.
India’s minister of Commerce and Industry and Civil Aviation, Suresh Prabhu, lauded the efforts of the two countries in organising the meeting in the run up to the Brics summit in July and said it was a sign of good things to come.
Prabhu said the two countries were poised to take off on a higher growth trajectory over the next few years.
Rob Davies, South Africa’s Minister of Trade and Industry, highlighted the rich historical relations between the two countries and said India was an important partner of South Africa. He noted that there was immense potential to grow the economic partnership between them.
Minister of Public Enterprise Pravin Gordhan said there was a need for both countries to be a part of each other’s growth story.
Indian High Commissioner Ruchira Kamboj said that the India and South Africa partnership was not just about the undeniably unbreakable ties of solidarity, but also about a shared future.
The first day of the event included tributes to Struggle icon Nelson Mandela and Mahatma Gandhi.
Other aspects of the twoday summit were the display of Indian and South African fusion dance forms. The Pulse – a fusion of Bharatnatyam and Zulu, was performed by local artists.
A fusion of Indian and South African cuisine was also served to the guests.
There were seven breakaway sessions to discuss the automobile industry, healthcare, mining, agro-processing, women entrepreneurs in business and the fourth industrial revolution.
The event also saw the launch of a book titled The Red Fort Declaration – The Legacy 20 Years on, Commemoration of 20 years of Strategic Partnership and authored by journalist Fakir Hassen.