DETAILED PROJECT REPORT
India trade relation with South- Africa
“Perseverance inspiration and motivation have always played a key role in success of any venture”. I hereby express my deep sense of gratitude to all the members involved directly and indirectly in this project work.
I would thank to God for their blessing and my parents also for their valuable suggestion and support in my project report.
I would also like to thank our friends and those who have helped us during this project directly or indirectly.
Last but not the least; I would like to express my sincere gratitude to my mentor prof.meetaJain who always been a source of guidance, inspiration and motivation. However, I accept the sole responsibility for any possible errors of omission and would be extremely grateful to my mentor if they bring such mistakes to my notice.
INDIA TRADE RELATION WITH SOUTH-AFRICA
The bilateral relations between the Republic of India and the Republic of South Africa have grown strong since the end of apartheid in South Africa in 1994. Both nations have since developed close strategic, cultural and economic ties. India and South Africa also share an extensive energy partnership. In 2010, India imported 1.4 million tonnes of South African coal in February, making it the largest purchaser of coal from the country. Ties with further solidified with South Africa's 2011 acceptance into the BRICS group. India has become the 6th largest trading partner to the South Africa in Asia region. With the bilateral trade of more than US$2 billion in a year, both nations have entered into the new era of trade. South Africa has entered into many different types of co-operation agreements with India, which is covering the various sectoral of technology, telecommunications and small business enterprises(SMEs). With the India's association, the South Africa has set up the 'India-South African Commercial Alliance' and has established a center for facilitating the consultations on the ministerial level for the political and economic matters. South Africa has also adopted the 'New Delhi Agenda for Cooperation', a south-south cooperation agreement with the India and Brazil. The agreement will allow all the 3 countries to discuss and share their opportunities, achievements and experiences.
During 1992-93, India and South Africa has the total trade of US$3 million, which has shown a massive increase over the years. In 2004-05, India's total trade has crossed the mark of US$3.1 billion. It is due to this steady increase that the India has become the 6th largest trading partner of the South Africa in the Asia region and has also bagged the title of 20th largest exporter and import market in throughout the world. India is from the group of top 10 investing companies of South Africa, with the investments that has reached to R10 billion. Tata Motors, with estimated investments of around R9 billion, has been characterized as the South Africa's sixth largest investor company. It has made most of the India's investment in South Africa. The Tata Group has made a diversification of investments in the South Africa in the various sectors- iron and steel, motor vehicles industry with the hotel industry is on cards. Mr. Jerry Matjila, South Africa's foreign affairs deputy, is confident enough that by 2010, trade of both nations would be able to reach R20 billion. In last 10 years of time span, trade between both nations has risen to a new height from R200 million of 1995 to R18 billion in 2007.
The trading relationship between India and South Africa can be underpinned by various bilateral agreements. Like in 2003, an agreement called the India-Brazil and South Africa agreement' was signed with the purpose of fostering the corporation and coordination activities between these nations on global level....