South Africa can be a gateway to Africa for India

South Africa is the largest trade partner of India in the African continent and India imports key raw materials such as coal, copper, gold, manganese, diamond etc. India needs can diversify its trade basket with South Africa away from mineral products by exploring trade potential in consumer goods, machineries and agro commodities. In order to provide fillip to bilateral trade, World Trade Center Mumbai organized an interactive session with Ms. Andrea Kuhn, Consul General, Consulate General of the Rep. of South Africa, Mumbai. All India Association of Industries (AIAI) and Indian Chamber of International Business (ICIB) also partnered with WTC Mumbai for this session.

Speaking on this occasion, Ms. Kuhn informed, “India and South Africa cherish trade ties since ancient civilization and we are at the cusp of historic transformation in our modern relations; Next year, both the countries will celebrate 30 years of re-establishment of diplomatic ties and this year we expect fruitful outcome from the ministerial level meetings of both the countries. This month of May is significant for Africa as we celebrate 20 years of establishment of African Union. India can play an important role in realizing Africa’s Agenda 2063, which envisions African Renaissance with common prosperity and an integrated continent.”

Ms. Kuhn positioned South Africa as a gateway to Africa by pointing out that Indian companies can reduce the lead time to access African market from eight days to three days by investing in Special Economic Zones in South Africa.

Mr. Dean Hoff, Consul Economic, Consulate General of the Rep. of South Africa made a presentation on ‘Doing Business in South Africa’ at the programme. Mr. Hoff invited Indian companies to participate in the South African government’s Economic Reconstruction and Rehabilitation Program. Under this program, the government promotes Made in South Africa, massive infrastructure investment, employment stimulus grant, agriculture & food security and gender equality.

Sharing information about potential areas of mutual partnership, Mr. Hoff informed, “Agriculture, non-edible oil processing, automobile, advanced manufacturing, green economy and renewable energy are the potential areas of cooperation between India and South Africa.”

Earlier in his welcome remarks, Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai pointed out, “South Africa can be a gateway for Indian companies to enter the 54-country African continent. South Africa is the largest trade partner of India in Africa and it has the largest Indian diaspora in the African continent. But still bilateral trade volume is around USD 15 billion, which can be enhanced with the dynamic initiatives of the South African Consul General in Mumbai. In order to stimulate trade and investment with South Africa and the entire African continent, WTC Mumbai and AIAI proposed to organize in the near future, an Africa Conclave in association with all the trade missions of African countries in India.”

The session was followed by a networking reception with delegates from trade & industry, financial institutions, consular corps, academia and consultancy organizations. The networking reception generated several B2B meetings, which will lead to mutually beneficial collaboration in terms of joint ventures and technology exchange. 

Photo Caption: (From left to right) Mr. Dean Hoff, Consul Economic, Consulate General of the Rep. of South Africa, Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai and President, AIAI, Ms. Andrea Kuhn, Consul General, Consulate General of the Rep. of South Africa, Mumbai, Mr Kevin Mehta, Vice President (West), Indian Chamber of International Business (ICIB), Ms. Rupa Naik, Executive Director, WTC Mumbai