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India and South Africa's bilateral trade USD 15 billion by 2014


India and South Africa's bilateral trade USD 15 billion by 2014

The Federation of Andhra Pradesh Chambers of Commerce & Industry in
association with South African Consulate General, Mumbai organized an
interactive meeting with His Excellency Mr. Pule Malefane, Consul
General, South African Consulate General, Mumbai
Mr. Devendra Surana, President, Ms. Seema Sardha, Consul (Economic),
South African Consulate General, Mumbai, Mr. Srinivas Ayyadevara,
Senior Vice President, Mr. Shyam Sunder Pasari, Chairman,
International Trade Committee, Mr. M.V. Rajeshwara Rao, Secretary
General was the other key speakers at the occasion.on 26th June 2012
at Federation House, Red Hills, Hyderabad.PIC.RSJTHOMAS

Mr. Pule Malefane said that the Commercial relations between India and
South Africa have flourished since the establishment of diplomatic
relations in 1993. On the trade front, value of bilateral trade was
USD 6.3 billion in 2010-11 and is expected to reach USD 15 billion by
2014. India and South Africa have a common approach on many global
issues, including UNSC reform, the future of multilateralism, climate
change, South-South Cooperation and multilateral trade negotiations.
Exports from India to South Africa include Information Technology & IT
Enabled Services, Vehicles and Components thereof, Transport
Equipment, Drugs and Pharmaceuticals, Engineering goods, Footwear,
Dyes and intermediates, Chemicals, Textiles, Rice, Gems and
Jewellery, etc. Imports from South Africa to India include Coal,
Diamond, Gold, Iron Ore, Auto Components, Gold, Steam Coal, Manganese
Ore and Minerals, etc.

The South African business environment is deemed to be broadly
attractive and is one of the most sophisticated in sub-Saharan Africa.
A World Bank survey has ranked South Africa third most attractive
among emerging markets for doing business. The South Africa's
transportation infrastructure is among the best in Africa, supporting
both domestic and regional needs. South Africa has rich mineral
resources. It is the world's largest producer and exporter of gold and
platinum and also a significant amount of coal. SA's another major
export is diamonds. South Africa's major trading partners include the
United Kingdom, the United States, Germany, Italy, Belgium, China,
Japan and India Mr. Pule Malefane said.

Mr. Devendra Surana, President, FAPCCI state that our State of Andhra
Pradesh has well-developed social, physical and industrial
infrastructure and virtual connectivity. It has good Power, Airport,
IT and Port Infrastructure. It has emerged as a key state for the
knowledge-based industry including IT, Pharmaceuticals and
Biotechnology. Over 70 of the 500 top global corporations are present
in the State. Vast natural gas reserves found in the Krishna - Godavari
basin have opened up immense possibilities for the state economy.
Moreover, the state offers a wide range of fiscal and policy
incentives for businesses under the Industrial Investment Promotion
Policy, 2010-2015. Additionally, the State has well drafted
sector-specific policies, besides having a large base of skilled,
semi-skilled and unskilled labour, making it an ideal destination for
the knowledge sectors.

Investment opportunities are abundant specifically in the
manufacturing sector which includes food processing, floriculture,
agro processing, petrochemicals, metals, textiles, leather, mining,
transport equipment, telecom and so on. The infrastructure sector is
rife with opportunities, be it the areas of power, ports, roads,
bridges, telecom facilities, development of coasts, waterways…
Financial services, R&D and Tourism, particularly medical tourism,
offer plenty of scope for investment. I request the visiting
dignitaries to kindly impress upon the South African Businessmen and
invite them to our State for exploring the business opportunities Mr.
Devendra said.



India and South Africa's bilateral trade USD 15 billion by 2014India and South Africa's bilateral trade USD 15 billion by 2014India and South Africa's bilateral trade USD 15 billion by 2014
India and South Africa's bilateral trade USD 15 billion by 2014



2012-06-26




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