The Deputy Minister of Trade and Industry, Elizabeth Thabethe, will lead a delegation of about 45 South African business people on an Investment and Trade Initiative (ITI) to Chennai and Mumbai in India from March 19-23.
The ITI is part of the Department of Trade and Industry's export and investment promotion strategy that focuses on India, amongst others, as a high growth export market. The objectives of the ITI are to create market penetration for South African value-added products and services in India and to promote South Africa as a trade and investment destination.
Bilateral trade between South Africa and India experienced an upward trend between 2006 to 2010, growing from R16.3 billion to R43 billion. The total trade increased by an average of 28% between 2009 and 2010 and the average growth rate over the past four years has been 30.4%. Trade statistics indicate a trade balance in favour of South Africa since 2009.
