India, South Africa ‘unified for prosperity’
THE historical and friendly alliance between Brics partners South Africa and India is expected to push back the frontiers for a brisk business and trading rapport between the two former colonised economies when they host a joint business summit in Johannesburg next week.
The high-level event will be held under the banner “United by Legacy, Unified for Prosperity” at the Sandton Convention Centre on Monday, April 30.
Conference co-ordinators say the first ever multi-sectoral event will bring together various stakeholders from India, South Africa and other Southern African Development Community member countries.
“The overall objective is to foster business partnerships between the two countries and to take India-South Africa economic relations to new horizons,” said Ruchita Kamboj, India’s High Commissioner in Pretoria.
“India and South Africa share a rich history of cultural, political and economic ties.
“As we celebrate 25 years of diplomatic relations, this friendship has grown into a strong and vibrant partnership that has propelled new businesses, renumerative investment and impactful socio-economic values.”
The India-South Africa Business Summit 2018 is a joint partnership aimed specifically at accelerating the momentum and strengthening bilateral economic co-operation since the 1990s.
India reopened its embassy in Pretoria after a more than 50-year boycott of the apartheid state in favour of support for Nelson Mandela’s ANC.
The strengthening of relations also comes on the back of President Cyril Ramaphosa’s “new dawn” era of politics that has inspired confidence inside the country and in other nations, India included.
The summit comes on the heels of Ramaphosa’s international investment drive to attract $100 billion to create new industries and jobs to tackle a staggering unemployment of more than 25% and 47% among young graduates and youth.
Senior diplomats and state officials in both capitals are predicting a brisk trading protocol and programme between New Delhi and Pretoria in the coming years, with a targeted figure of doing crossocean trade of up to $20 billion (R245bn).
India’s Commerce and Industry Minister Suresh Prabhu and SA’s Trade and Industry Minister Rob Davies will be among the speakers.
Other participants include Invest India, the National Investment Promotion and Facilitation Agency of India and Invest SA.
Ishwar Ramlutchman, executive vice-president in South Africa for the Global Organisation of People of Indian Origin (Gopio), said the organisation would send delegations from Durban, Johannesburg and Cape Town to bolster business relations between local and foreign Indian entrepreneurs and economic experts.
The event, which kicks off with a dinner on Sunday and tributes to Mandela and Mahatma Gandhi, also includes a panel discussion on start-up ecosystems in India and South Africa.
It will also host sessions on healthcare and pharmaceuticals, women entrepreneurs, mining and food processing.