Min eral re­sources

Finweek English Edition - - INSIGHT -

Both the African con­ti­nent and the In­dian sub­con­ti­nent are rich in min­eral re­sources, no­tably di­a­monds, gold and sil­ver, as well as agri­cul­tural and forestry prod­ucts. Crude oil and gas ac­count for over two-thirds of Africa’s ex­ports to In­dia, while gold and other pre­cious met­als ac­count for 16% of ex­ports. While SA is a leader in gold and rough di­a­mond pro­duc­tion, In­dia’s state of Guja r at i s k nown f or d i a mond pro­cess­ing and pol­ish­ing. man­u­fac­tur­ing There is an In­dia-Africa in­te­grated tex­tile clus­ter work­ing to strengthen the value chain of the cot­ton sec­tor in Africa. In 2011, the Cot­ton Tech­ni­cal As­sis­tance Pro­gramme (C-TAP) for Africa was launched as part of the sec­ond In­di­aAfrican Fo­rum Sum­mit. While In­dia is not a large im­porter of African cot­ton, it is a ma­jor player in the global cot­ton mar­ket and has a strong tex­tiles in­dus­try. ICT and bank­ing ser­vices Like in Africa, the num­ber of In­dia’s cell­phone sub­scribers have surged. Bet ween 2002 and 2012, In­dia’s cell­phone users grew f rom 45m to al­most 1bn. In­dia is well known for its call cen­tre and busi­ness pro­cess­ing fa­cil­i­ties, a growth area for SA, too. Stan­dard Bank and FirstRand have ven­tured into In­dia and the Bank of In­dia has opened of­fices here.

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