DEPUTY MINISTER MASINA ARRIVES IN INDIA TO STRENGTHEN BILATERAL
RELATIONS
The Deputy Minister of Trade and Industry, Mr Mzwandile Masina has
arrived in Hyderabad, India where he is leading a delegation of twenty-five
(25) South African businesspeople on the 6th annual India
Investment and Trade Initiative (ITI) scheduled to take place from 23-25
February 2015.
The objective of the ITI is to create market access for the South
African value-added products, and services in India and to also promote South
Africa as an attractive trade and investment destination.
Masina encouraged the delegation to maximize opportunities offered by
the Indian market and to follow up on the economic opportunities and
partnership with Indian companies based in Hyderabad.
“India has an interest in Africa, particularly South Africa. In their
interaction, It is important that members of the South African business
delegation inform their Indian counterparts about our government programmes
aimed at achieving the industrialization and localisation of our the economy
with special focus on Broad-Based Black Economic Empowerment, “ said Masina
Masina’s programme will include bilateral meetings with the Chief
Minister of Andhra Pradesh Mr Sri Nara Chandra Babu Naidu and meetings with
potential investors in Business Processing Outsourcing (BPO), mining and the
film industries.Tomorrow, Masina will address a business seminar hosted by the
Indian government in partnership with the Hyderabad Chamber of Commerce.
Trade between South and India has increased significantly over the past
eight years, growing more than five folds from R16,12 billion in 2006 to R90
billion in 2014. This growth was driven by major increase in the South African
exports to India.
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