SOUTH AFRICA is the second largest economy in African region, having immense potential for Indian technocrats, interested in setting up manufacturing units.
SOUTH AFRICA is considered as the gateway to African markets. The access is admirable and creates an ideal platform for exports to a larger base.
According to FDI intelligence between the Middle East and Africa Countries of the Future 15/16 report, SOUTH AFRICA is number one in Africa, attracting the highest number of inward projects.
To highlight the prospects FEDERATION OF TELANGANA AND ANDHRA PRADESH CHAMBERS OF COMMERCE AND INDUSTRY (FTAPCCI) organized a Seminar on Business Opportunities in SOUTH AFRICA on 21 February 2018 in Hyderabad.
The dignitaries who addressed the participants included Mr. BEN JOUBERT, Deputy High Commissioner, Mr. RECADO ANDREWS, Minister Counsellor (Economic), Ms RASHMEE RAGHAVAN Department of Trade & Investments and Mr. RAVI ISSAR, Advisor (Trade & Investment) of South African High Commission.
R KULKARNI, Joint Director, FTAPCCI hosted the event and introduced the speakers. In his opening note Gowra Srinivas, President, FTAPCCI, said that the South Africa was the place where freedom struggle had started which liberated the nation from the British. He added that due to this, our bondage is strong and we had many more similarities with African Nation.
The South African Deputy High Commissioner briefed that both the nations shared a unique rapport and bilateral relationship is strategic. He concluded that they believed that INDIA and SOUTH AFRICA have a huge scope to work and research together for mutual benefits.
His Colleague and Minister Counsellor, informed that both the nations had similar industrial and open economy which creates a healthy atmosphere for bilateral business.
SOUTH AFRICA has designed a National Development Plan that foresees special proposals for various sectors.
Projects in the country not only serve the origin but also extend services to the entire West Africa, which comprises of 12 states, with their free trade agreements.
Ms Rashmee elaborated the various sectors that needed participation from India. She spoke about the extensive platinum corridor and the European Union trade agreement. The South African authorities have many sector based special incentive packages and tax breaks.
Concluding the event, the authorities explained that both the nations could cooperate with each other in sharing their intelligence on various issues and work towards mutual benefits.
The sectors of participation included automobiles, aerospace, energy (solar power & wind farms), electronics, agro processing and pharma.
Way2World wishes all the participants a grand success in all their endeavors in SOUTH AFRICA. Opportunities are abundant for the inspired, dare to dream and put efforts to achieve.– Rajkishan