A nine-member Indian delegation visited Pretoria, South Africa, to participate in the second session of the India-South Africa Joint Working Group on Trade and Investment (JWGTI), held on April 22–23.

Led by Economic Adviser Priya Nair from the Department of Commerce, the Indian delegation, engaged in wide-ranging discussions with their South African counterparts. The South African side was co-chaired by Malose Letsoalo, Chief Director, Bilateral Trade Relations, Department of Trade, Industry and Competition.

Officials from the High Commission of India in South Africa, the Department for Promotion of Industry and Internal Trade (DPIIT), and the Ministry of Agriculture and Farmers’ Welfare also participated in the deliberations. The two sides expressed a shared commitment to boosting bilateral trade and investment, resolving outstanding issues, and enhancing people-to-people ties.

Key areas of collaboration discussed included pharmaceuticals, healthcare, agriculture, MSMEs, and jewellery manufacturing. The agenda also covered the revival of the CEO Forum, investment cooperation, market access for agricultural products, recognition of Indian Pharmacopoeia, local currency settlement systems, fast payment and unified payment linkages, and discussions on a potential India-Southern African Customs Union (SACU) Preferential Trade Agreement.

Both sides reviewed recent developments in bilateral trade and investment and acknowledged the significant untapped potential. They agreed to focus on priority sectors for enhancing mutually beneficial trade and investment opportunities.

South Africa remains India’s largest trading partner in the African continent. Bilateral trade between the two countries reached USD 19.25 billion in 2023-24. Indian businesses have invested over USD 1.3 billion in South Africa since April 2000, spanning diverse sectors such as pharmaceuticals, information technology, automotive, banking, and mining.