India-SA Trade May Touch $10bn Mark in 2011.

The trade between India and South Africa is expected to reach USD 10 billion in 2011, Indian High Commissioner Virendra Gupta said today.

"Our trade relations continue to grow, and I think in 2011 we will probably be reaching a trade volume figure of USD 10 billion," Gupta told reporters.

The trade volume between the countries was at USD 7.7 billion in 2009-10.

"We have a very robust economic engagement with South Africa, which is our strongest partner in Africa and in the developing countries at large," Gupta said.

He was briefing media about the participation of Indian companies in the three-day South African International Trade Exhibition (Saitex).

More than 40 Indian companies participated in the Saitex, highlighting increasing bonds between India and South Africa, he said.

Gupta said the small-scale industries which were represented at Saitex used models that could be considered for development in rural areas of South Africa in particular.

The strong contingent of Indian companies was visiting South Africa under the auspices of the India Trade Promotion Organisation (ITPO) and the Ministry of Food Processing Industries.

The number of exhibitors at the annual Saitex event from India has increased steadily over a number of years.

"Saitex assumes special significance for India as South Africa has a stable economy and  has recently been inducted into the BRICS (Brazil, Russia, India, China and South Africa) group," said the leader of the Indian delegation B K Khanna.

Most exhibitors said it had been a fruitful exercise, with many leads established which would be followed up in ensuing months.

Source : moneycontrol.com