South Africa, India must turn economic tie-up into projects, investments: Cyril Ramaphosa

NEW DELHI: 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.

He highlighted the growing potential of cooperation in the digital economy. He also called for stronger collaboration between universities. (IANS)

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