Hyderabad|India|June'2012: The Federation of Andhra Pradesh Chambers of Commerce & Industry in association with South African Consulate General, Mumbai organized an interactive meeting with His Excellency Mr. Pule Malefane, Consul General, South African Consulate General, Mumbai Mr. Devendra Surana, President, Ms. Seema Sardha, Consul (Economic),South African Consulate General, Mumbai, Mr. Srinivas Ayyadevara,Senior Vice President, Mr. Shyam Sunder Pasari, Chairman,International Trade Committee, Mr. M.V. Rajeshwara Rao, Secretary General was the other key speakers at the occasion on 26th June 2012 at Federation House, Red Hills, Hyderabad.

Mr. Pule Malefane said that the Commercial relations between India and South Africa have flourished since the establishment of diplomatic relations in 1993. On the trade front, value of bilateral trade was USD 6.3 billion in 2010-11 and is expected to reach USD 15 billion by 2014. India and South Africa have a common approach on many global issues, including UNSC reform, the future of multilateralism, climate change, South-South Cooperation and multilateral trade negotiations.

Exports from India to South Africa include Information Technology & IT Enabled Services, Vehicles and Components thereof, Transport Equipment, Drugs and Pharmaceuticals, Engineering goods, Footwear,Dyes and intermediates, Chemicals, Textiles, Rice, Gems and Jewellery, etc. Imports from South Africa to India include Coal,Diamond, Gold, Iron Ore, Auto Components, Gold, Steam Coal, Manganese Ore and Minerals, etc.

The South African business environment is deemed to be broadly attractive and is one of the most sophisticated in sub-Saharan Africa.A World Bank survey has ranked South Africa third most attractive among emerging markets for doing business. The South Africa’s transportation infrastructure is among the best in Africa, supporting both domestic and regional needs. South Africa has rich mineral resources. It is the world’s largest producer and exporter of gold and platinum and also a significant amount of coal. SA’s another major export is diamonds. South Africa’s major trading partners include the United Kingdom, the United States, Germany, Italy, Belgium, China,Japan and India Mr. Pule Malefane said.

Mr. Devendra Surana, President, FAPCCI state that our State of Andhra Pradesh has well-developed social, physical and industrial infrastructure and virtual connectivity. It has good Power, Airport,IT and Port Infrastructure. It has emerged as a key state for the knowledge-based industry including IT, Pharmaceuticals and Biotechnology. Over 70 of the 500 top global corporations are present in the State. Vast natural gas reserves found in the Krishna–Godavari basin have opened up immense possibilities for the state economy.Moreover, the state offers a wide range of fiscal and policy incentives for businesses under the Industrial Investment Promotion Policy, 2010-2015. Additionally, the State has well drafted sector-specific policies, besides having a large base of skilled,semi-skilled and unskilled labour, making it an ideal destination for the knowledge sectors.

Investment opportunities are abundant specifically in the manufacturing sector which includes food processing, floriculture,agro processing, petrochemicals, metals, textiles, leather, mining,transport equipment, telecom and so on. The infrastructure sector is rife with opportunities, be it the areas of power, ports, roads,bridges, telecom facilities, development of coasts, waterways…Financial services, R&D and Tourism, particularly medical tourism,offer plenty of scope for investment. I request the visiting dignitaries to kindly impress upon the South African Businessmen and invite them to our State for exploring the business opportunities Mr.Devendra said.

-June 2012