♦ A nine-member Indian delegation visited Pretoria, South Africa, to participate in the second session of the India-South Africa Joint Working Group on Trade and Investment (JWGTI).

♦ Led by Economic Adviser Priya Nair from the Department of Commerce, the Indian delegation, engaged in wide-ranging discussions with their South African counterparts.

♦ The South African side was co-chaired by Malose Letsoalo, Chief Director, Bilateral Trade Relations, Department of Trade, Industry and Competition.

♦ Key areas of collaboration discussed included pharmaceuticals, healthcare, agriculture, MSMEs, and jewellery manufacturing.

♦ The agenda also covered the revival of the CEO Forum, investment cooperation, market access for agricultural products, recognition of Indian Pharmacopoeia, local currency settlement systems, fast payment and unified payment linkages, and discussions on a potential India-Southern African Customs Union (SACU) Preferential Trade Agreement.

♦ between the two countries reached USD 19.25 billion in 2023-24.

♦ Indian businesses have invested over USD 1.3 billion in South Africa since April 2000, spanning diverse sectors such as pharmaceuticals, information technology, automotive, banking, and mining.