India, South Africa To Strengthen Trade Ties; Revive CEO Forum

New Delhi, April 25 (KNN) A nine-member Indian delegation participated in the Joint Working Group on Trade and Investment (JWGTI) meeting with their South African counterparts in Pretoria on April 22–23, 2025.

The Joint Technical Committee (JTC) was co-chaired by Malose Letsoalo, Chief Director, Bilateral Trade Relations, Department of Trade, Industry and Competition, Republic of South Africa, and Priya Nair, Economic Adviser, India's Department of Commerce. 

The discussion focused on key sectors such as pharmaceuticals, healthcare, agriculture, MSMEs, and jewelry manufacturing.

Key discussion points encompassed the revival of the CEO Forum, investment cooperation, and market access for agricultural products; recognition of Indian Pharmacopoeia; the Local Currency Settlement System; fast payment systems/Unified Payment Linkage system; and deliberations on the India–Southern African Customs Union (SACU) Preferential Trade Agreement—all aimed at further strengthening economic ties.

South Africa currently stands as India's largest trading partner in the African region, with bilateral trade reaching USD 19.25 billion in 2023-24. 

Indian businesses have invested over USD 1.3 billion in South Africa from April 2000 to September 2024, spanning diverse sectors including pharmaceuticals, information technology, automotive, banking, and mining.

(KNN Bureau)