Johannesburg, A South African business delegation will visit New Delhi next week to explore opportunities to expand economic ties with India and address the trade imbalance between the two countries.
The South African BRICS Business Council will attend the BRICS Business Council and Business Forum meetings in New Delhi on September 10 and 11, ahead of the 18th BRICS Summit. The SABBC, formed in 2013, promotes trade, investment, and public-private dialogue between South Africa and member nations, focusing on industrialisation, green energy, and African economic development. Mabuza also highlighted the role of the BRICS New Development Bank, saying it had approved more than R6.41 billion in financing for infrastructure and sustainable development projects in South Africa.
The SABBC said it would use the trade imbalance as a “commercial mandate” to expand higher-value exports, secure investment partnerships and move the relationship beyond a buyer-seller model towards co-investment, technology collaboration and greater market access. SABBC Chairperson Busi Mabuza said the delegation would focus on turning discussions into “measurable transactions” through investment facilitation, business matchmaking and projects in energy, manufacturing, infrastructure and the digital economy. The delegation will seek opportunities in advanced manufacturing, pharmaceuticals, digital services, agro-processing and renewable energy, with a focus on increasing higher-value exports and securing investment partnerships. Among the issues on the agenda are using Indian technology and capital to position South Africa as a regional automotive production hub and developing partnerships in pharmaceuticals and medical devices to expand access across Africa.
