South Africa asks Indian firms to explore power, mining sectors
Essop Pahad, minister in the Office of the Presidency of South Africa, who was in Mumbai recently to attend the Indo-South Africa trade conference, spoke to ET on the need for mutual co-operation between the two countries.
By Pallavi Mulay, TNN |
Essop Pahad, minister in the Office of the Presidency of South Africa, who was in Mumbai recently to attend the Indo-South Africa trade conference, spoke to ET on the need for mutual co-operation between the two countries.
How do you assess India vis-à-vis other emerging markets?
India has witnessed quite a phenomenal growth for the past few years. Not only the pace, but also the qualitative elements are strong in the case of India. No other country in the world, except China, has shown this kind of growth. Meanwhile, the government’s thrust on the deregulation of the Indian economy augurs well for foreign investors. One can also learn from the way Indian corporates have gone about their expansion on the global stage
Which are the sectors in India where you see investment opportunities?
There are huge opportunities in infrastructure development in India. Besides, there should also be a special focus on the power sector. In particular to investors from South Africa, there are lots of opportunities in the mining sector, especially deep mining. This is a sector where South African firms have a lot of expertise.
Which are the sectors in South Africa where you look forward to trade relations with India?
Pharmaceuticals is one sector in South Africa where Indian pharma firms could have real opportunities. At present, a few drug players control the industry in SA. Indian firms could help us develop top grade pharma firms. Another sector is hospitality. SA will be one of the attractive tourist destinations. Indian firms like the Mahindras are already looking at this sector.
Apart from this, we would like to learn from India’s experience in micro-financing and development of small and medium enterprises (SMEs). India has been quite successful in micro-financing. We have good policies and plenty of money for this cause, but not able to effectively implement it. In short, the areas for mutual co-operation between the two countries is quite large.
India has witnessed quite a phenomenal growth for the past few years. Not only the pace, but also the qualitative elements are strong in the case of India. No other country in the world, except China, has shown this kind of growth. Meanwhile, the government’s thrust on the deregulation of the Indian economy augurs well for foreign investors. One can also learn from the way Indian corporates have gone about their expansion on the global stage
Which are the sectors in India where you see investment opportunities?
There are huge opportunities in infrastructure development in India. Besides, there should also be a special focus on the power sector. In particular to investors from South Africa, there are lots of opportunities in the mining sector, especially deep mining. This is a sector where South African firms have a lot of expertise.
Which are the sectors in South Africa where you look forward to trade relations with India?
Pharmaceuticals is one sector in South Africa where Indian pharma firms could have real opportunities. At present, a few drug players control the industry in SA. Indian firms could help us develop top grade pharma firms. Another sector is hospitality. SA will be one of the attractive tourist destinations. Indian firms like the Mahindras are already looking at this sector.
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Apart from this, we would like to learn from India’s experience in micro-financing and development of small and medium enterprises (SMEs). India has been quite successful in micro-financing. We have good policies and plenty of money for this cause, but not able to effectively implement it. In short, the areas for mutual co-operation between the two countries is quite large.
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