Reviving India-South Africa Trade Relations: A New Investment Network Initiative

The Consulate General of India in Johannesburg has launched the India-SA Investment Network to revitalize trade and investment relations between both countries. This initiative aims to bridge gaps in awareness and provide a support structure for investors, targeting diverse sectors like renewables, IT, and infrastructure.

The Consulate General of India in Johannesburg has introduced the India-SA Investment Network, aiming to rejuvenate trade relations affected by the COVID-19 pandemic. This effort seeks to bridge gaps in awareness and information to unlock potential investment opportunities between India and South Africa.

Consul General Mahesh Kumar emphasized the importance of this network in creating better bilateral engagement. With an annual trade value of about USD 19 billion, there is substantial room for growth. The initiative plans deep collaborations with educational and business institutions to drive this effort forward.

Yunus Hoosen, CEO of Invest SA, highlighted the need for improved visa regulations to facilitate business-friendly environments. Indian High Commissioner Prabhat Kumar discussed various incentives provided by the government and the potential for knowledge-sharing in pharmaceuticals. The initiative also focuses on broadening trade beyond just a few commodities, ultimately aiming for diversified and enhanced economic ties.

(With inputs from agencies.)