India's Prime Minister said South Africa and India have the resources and means to further develop their relationship to reach $12 billion in trade by 2010, up from $4 billion in trade currently.
While attending a business forum in South Africa, Indian Prime Minister Manmohan Singh urged the two countries to broaden their trading field over the next four years. Singh is currently visiting South Africa where agreements on railways, education, and cooperation in science and technology are scheduled to take place. This is the first official visit by an Indian PM to South Africa in nine years.
The increase in trade between the countries was almost solely attributableâ€ to India's imports of gold from South Africa, said Patrice Motsepe, president of Business Unity SA, the main representative of business in South Africa.
India imports minerals, chemicals base metals, textiles and pulp from South Africa. South Africa's imports textiles, clothing, leather and vegetable products from India.