New delhi: As the global economy undergoes transformation, South Africa and India are set to deepen their cooperation in areas such as investment, trade, and sustainable growth, President Cyril Ramaphosa announced. Speaking at the South Africa-India Roundtable in New Delhi, on the sidelines of the BRICS Summit, President Ramaphosa highlighted the potential for new economic relations between the two countries, emphasizing the role of the private sector in converting policy dialogue into tangible projects and partnerships.
According to South African Government News Agency, President Ramaphosa outlined the importance of this collaboration by pointing out that both nations can leverage their complementary resources to empower youth, uplift communities, and bolster trade across their respective regions. He stressed that the outcomes of this forum should lead to actionable commitments supported by both governmental facilitation and private sector leadership.
President Ramaphosa further emphasized the need for partnership and shared ambition in navigating the significant transformation of the global economy. He noted that supply chains are being reconfigured, industrial policies are being reshaped, and the energy transition is accelerating, all while digital technologies and emerging markets drive global growth.
The President highlighted several key areas for collaboration, starting with energy transition and green industrialization. He noted that both countries are navigating ambitious energy transitions and opportunities abound in renewable energy technologies, green hydrogen, and sustainable manufacturing. He encouraged large companies to anchor investments in South Africa as a base for exporting to Africa and beyond.
Another area ripe for cooperation is mining, critical minerals, and beneficiation. President Ramaphosa pointed out South Africa's mineral wealth and India's manufacturing capabilities as a foundation for collaboration across critical mineral value chains, particularly in producing new energy vehicles and batteries.
Infrastructure and connectivity were also identified as crucial areas. The President underscored the importance of investment in transport, logistics, digital connectivity, and industrial corridors for trade and integration on the African continent. He urged Indian companies to engage in partnerships to support South Africa's infrastructure drive.
Agriculture was highlighted as fundamental to economic development and social stability, with potential for collaboration in agro-processing, food innovation, and sustainable farming practices to strengthen supply chains and improve food security.
Finally, the digital economy and innovation present exciting opportunities for cooperation. President Ramaphosa cited the rapid growth of the digital economy as a catalyst for collaboration in fintech, digital trade, and artificial intelligence. He noted recent expansions in South Africa by companies like Atain, which reflect this potential.
President Ramaphosa concluded by emphasizing the importance of human capital and institutional partnerships in achieving sustained growth and commercial success. He called for strengthened partnerships between educational and research institutions to support innovation and workforce development, highlighting the tangible impact of such collaborations over formal agreements.
