S African Chambers of Commerce applaud Indian embassies' efforts to increase trade

 S African Chambers of Commerce applaud Indian embassies' efforts to increase trade

During an interactive discussion on exploring potential synergies between India and South Africa, Consul General Mahesh Kumar welcomed delegations from four out of the nine provinces under his authority in South Africa.

An invitation from the Indian Consulate in Johannesburg to leverage the various programs launched by the Indian government to promote bilateral commerce has been warmly received by a number of South African Chambers of Commerce and trade associations.

During an interactive discussion on exploring potential synergies between India as well as South Africa, Consul General Mahesh Kumar welcomed delegations from four out of the nine provinces under his authority in South Africa.

Initiatives like Made in India, Start-up India, Digital India, the Smart City Mission, as well as the Atal Mission for Rejuvenation and Urban Transformation—all aimed at generating enormous potential in India—were presented by Dr. Vineet Kumar, Commercial Representative at the Consulate.

However, Kumar emphasized that the goals of all these activities were growth and trade that would benefit both parties.

"Trade bodies and Chambers of Commerce (COCs) in South Africa are mandated to carry out these tasks, whilst Export Promotion Councils (EPCs) in India handle them. According to Kumar, these EPCs function similarly to Trade Bodies and COCs in that they manage certified trade networks, monitor membership, and suggest businesses for trade.

The Consulate extended its offer of assistance with trade inquiries and approvals, networking functions, and delegation visits and contacts.

In his two years in South Africa, Mritunjay Kapur, Executive Director as well as Head of Advisory at KPMG South Africa, pointed out that there were genuine prospects for India and South Africa to collaborate and strengthen collaboration within the business sector as well as between the governments.

"India has experienced significant growth, and I observe a comparable kind of growth occurring in South Africa." I suppose there is a lot that both nations can learn from one another," Kapur said.

Emerging farmers in South Africa have had the chance to learn about development ideas in India and apply them to their own agricultural sector, according to Danny Vengedasamy, Chamber Manager at the South African Chamber about Commerce and Industrial Organization (SACCI).

Vengedasamy told the audience that SACCI President Mtho Xulu had signed an MoU with India at the BRICS Summit held in Johannesburg earlier this year. "I consider that there are a lot of synergies in trade; a numerous of partnerships; a lot of teamwork that we can actually do together as well and think that will put us both in beneficial stead," Vengedasamy said.

"We now need to look at whatsoever (India) puts up there from the National Export Promotion Councils etc. to determine whether we can fast-track that to make serious business out of that," Vengedasamy said.

The Indo-Africa Business Bridge's Web Director, Peter Makhafola, hopes to promote investment in both nations.

"We are looking at preparing an offshore development centre in India and we would like to know what type of concessions there would be available for an entity that has been formed in South Africa if it decided to make such an investment into India," Makhafola said.

In order to address initiatives initiated by its members, Kgotso Mmadi, the chairperson of the Wesvaal Chamber of Enterprise in the North West Province, asked the Consulate for an urgent meeting date.

Five projects have already been selected, in which we would want India to participate either via skill-sharing or investment. We think that some of our students may gain from India," he said. According to Mmadi, the Covid-19 epidemic had prevented a group of students from his area from traveling to India as part of the Ministry of External Affairs' worldwide platform for capacity-building, The Indian Technical as well as Economic Cooperation Programme (ITEC).

In his reply, the Consul General promised to investigate every issue brought up by the delegates, working with his colleagues at the Cape Town and Durban consulates as well as the High Commission in Pretoria.

He continued by saying that all of the EPCs in India had been asked to come to South Africa or to help with online communication with their equivalents in this country. Pretense RUP RUP RUP FH