Min eral resources
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.