India-SA Summit ends after getting down to business
THE FIRST India-South Africa Business Summit 2018 opened at the Sandton Convention Centre, Johannesburg, in the presence of the Indian Minister of Commerce, Industry and Civil Aviation, Suresh Prabhu, and South Africa’s Minister of Trade and Industry Rob Davies. The summit was also marked by the presence of trade and industry ministers from SADC countries and top CEOs and industry specialists from India, South Africa and SADC countries.
The two-day event opened with a tribute to Nelson Mandela and Mahatma Gandhi followed by a plenary session, eight breakaway sessions and a closing session, all of which seek to chart the way forward for the India-South Africa relationship.
The summit was also marked by a MoU that was signed between Invest SA and Invest India, strengthening a rapidly growing economic and trade partnership between the two strategic partner countries.
The summit began with a meeting of the “India-South Africa CEOs Forum” wherein key issues concerning trade, investment and promotion of business, were identified and discussed by chief executives of both countries in co-ordination with the Confederation of Indian Industries and BUSA/DTI/BBC.
The Forum was led by Adi Godrej, chairman of the Godrej Group from the Indian side and Vivian Reddy, founder of the Edison Group on the South African side.
A Report of the Forum which sets out in detail potential sectors for future growth concluded that there is an urgent need to deepen and widen trade between India and South Africa, diversifying it away from gold.
Two additional highlights of the summit included a book release of The Red Fort Declaration – The Legacy 20 Years on, Commemoration of 20 years of Strategic Partnership, authored by journalist Fakir Hassen, which documents the progress of bilateral relations between the two countries. There was also the release of a White Paper setting out the substantive corporate social responsibilities of Indian companies based in South Africa.
Keynote addresses were delivered by Prabhu and Davies and Minister of Public Enterprises Pravin Gordhan.
The Premier of Gauteng, David Makhura, as well as CEOs and industry specialists from India and South Africa, also attended the summit.