South Africa, India Must Turn Economic Partnership Into Projects, Investments: Ramaphosa

(MENAFN- IANS) New Delhi, Sep 13 (IANS) South African President Cyril Ramaphosa has called for a new era in economic relations between South Africa and India, saying the two countries have significant opportunities to deepen cooperation in investment, trade, industrial development and sustainable growth.

Addressing the South Africa-India Roundtable in New Delhi on the sidelines of the BRICS Summit, Ramaphosa urged businesses from both countries to strengthen partnerships and turn policy discussions into commercially viable projects and long-term investments.

“We are ready for a new era in economic relations between our two countries,” Ramaphosa said, emphasising the need for greater private-sector participation in expanding bilateral economic ties.

He identified renewable energy, green hydrogen, critical minerals, infrastructure, agriculture and digital innovation as key areas where the two countries can expand cooperation. According to Ramaphosa, South Africa's mineral resources and India's manufacturing capabilities can create opportunities for developing electric vehicles, batteries and other industrial products.

The South African President also invited Indian companies to participate in the country's infrastructure development projects. South Africa has identified 195 strategic integrated projects with a combined value of more than $100 billion, covering areas such as transport networks, renewable energy, water infrastructure and hospitals.

Ramaphosa highlighted the growing potential of cooperation in the digital economy as well. He referred to the new Cape Town site of Indian business services company Atain, which is expected to increase its workforce in South Africa from 1,500 to more than 2,000 young people.

He also called for stronger collaboration between universities, research institutions, skills development organisations and businesses, saying that deeper institutional partnerships would help build capabilities and create new opportunities for young people.

“The strength of the partnership between our countries is not measured by the agreements we sign but by the impact we achieve,” Ramaphosa said.

The South Africa-India Roundtable was held as global leaders gathered in New Delhi for the BRICS Summit. The meeting provided an opportunity for businesses and policymakers to explore new avenues for bilateral investment, trade and industrial cooperation.

Ramaphosa's remarks come as India and South Africa seek to build on their longstanding economic relationship by focusing on sectors linked to energy transition, critical minerals, manufacturing, infrastructure and digital innovation.

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