South Africa has evinced to strike partnership with Indian business houses in the mines and metals sector as well as IT, health, pharmaceuticals, engineering, capital equipment and tourism among others.
South Africa offers a very favourable climate sans red-tapism and Government interference and in the areas of expertise of the Indian businesses. Already several Indian majors from Tata Steel, Jindal Group to Essar have established their presence by investing heavily in mining and mineral sector in the country, senior economic advisor to South African High Commission SC Pradhan said.Bilateral trade between India and South Africa was to the tune of around USD 14.7 billion in 2011-12. The figure is projected to touch USD 18 billion in next three years, he said at an interactive session on “India-South Africa Economic Cooperation: Promotion of Capital Equipment” organised by the Confederation of Indian Industry (CII), Odisha chapter here.
The objective was to provide a platform for the business delegation from South Africa having interests in manufacturing equipment and machinery, used mostly in mining and mineral industry, to interact with potential Indian investors, importers and joint venture partners.The six-member business delegation from South Africa included Director, Export Promotion, Department of Trade and Industry, Government of South Africa Kenneth Malatsi.
South Africa-based Hepzibar Mining evinced interest in partnering with Indian business for developing a coal block in Mozambique. The company is also on the look out for a joint venture partner to develop a diamond block in Namibia. “We are keen on exploring opportunities of tie-ups with counterparts in India for the purpose,” Director Caryn Mpoelang told media persons during the session.
The delegates from South Africa held one to one meeting with Indian mining equipment and machinery manufacturers and the user industries.Chairman, CII Odisha, MK Gupta spoke on the industrial scenario in the State as well as potential for joint ventures.