South Africa and India Unveil New Chamber to Boost Bilateral Trade

South Africa is enhancing its trade and investment ties with India, as announced by Minister Parks Tau at the launch of the India-SA Chamber of Commerce. The new chamber seeks to elevate bilateral trade, support small businesses, and promote industrial collaboration. The initiative aims to tackle barriers to trade and foster economic growth.

South Africa is making strides to solidify its trade and investment rapport with India, Trade, Industry, and Competition Minister Parks Tau proclaimed to a convocation of South African business leaders and Indian corporate heads.

On Sunday, Tau headlined the inauguration of the India-SA Chamber of Commerce (ISACC), an initiative arising from dialogues held in Cape Town, Durban, and Johannesburg with Prof Anil Sooklal, the High Commissioner Designate for South Africa to India.

Tau revealed that in 2023, India ranked eighth as South Africa's export destination and fourth in import sources, with bilateral trade soaring from USD 8 billion to USD 13 billion over five years.

(With inputs from agencies.)