India-SA bilateral trade may touch USD 15 bn in FY 12

Bilateral trade between India and South Africa is expected to surge by a whopping 50 per cent to around $ 15 billion in FY 12 against $ 10 billion in the current fiscal, a senior South African Minister today said.

"The bilateral trade between both the countries is growing and we have almost touched our target of $ 10 billion for FY 11. We expect to reach $ 15 billion in FY 12," Republic of South Africa Trade and Industry Deputy Minister Elizabeth Thabethe told reporters here. 

The minister is here on her last leg of a week-long visit to India heading a business delegation of 35 companies, of which 90 per cent are small and medium enterprises (SMEs). 

She said that South Africa has huge potential for Indian investments, especially in sectors like manufacturing, mining, tourism, SMEs and Information Technology in which local talent can be tapped......
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