Thursday, 19 December 2013

South Africa: Best investments for doubling your money

Better known as the ‘Powerhouse’ of the African continent, South Africa is budding as one of the most subtle and promising markets of the world. A Minister from South Africa stated, “Those who invest in South Africa never go wrong, they double their investments. I give people the example of the Tatas.” Worth to mention, South Africa was the spotlight country at the India International Trade Fair (IIFT) 2013 and was focused enormously for the second time consecutively. H.E. Ms. Elizabeth Thabethe, Deputy Minister of Trade and Industry, South Africa who visited Delhi to attend IIFT 2013 expressed, “Tatas are everywhere in South Africa. They’re doing so well, opening new outlets and growing their footprint.” She added, “The Indian companies doing business in South Africa testify how easy it is to set up and then do business. We provide a variety of incentives to companies.” Realizing that it is not a one-way street, a visiting minister articulated, “India is a good market for our crafts because we have a lot in common, our tribals, huge social variety, and arts and crafts tradition.” To get mutually benefited, the Minister encouraged huge investments from India as well as South African investments into India in order to gain experience and learn from each other’s expertise. She pointed out, “Our Embassies are doing their best to encourage investments in South Africa, also so that there is benefaction and value addition. With our raw material resources it makes more sense to do value addition in South Africa and then export. If you just take the raw materials, it creates jobs in their country, not in South Africa.”

According to her, the extensive support forwarded by India for the anti-apartheid struggle in South Africa and the visit of Mahatma Gandhi that transformed the shape of the country laid the foundation stone of the bilateral relations between both the countries. She conveyed, “We’re just not countries that happen to be together, there is a foundation. India has persistently supported our struggle against apartheid. The Mahatma’s political career started in South Africa. In all this there is a foundation of a deep and abiding relationship. Beginning with such a base, our relations have developed newer forms and linkages like IBSA (India-Brazil-South Africa) and BRICS (Brazil, Russia, India, China and South Africa). We’re honored to be the focus country for two successive IIFTs. This emanates from a good relationship.”;

Well supported by the country’s Department of Trade and industry (DTI) in terms of finance and operations, nearly 35 South African craft micro-firms owned a stall in IIFT 2013. She said, “Arts and crafts have proven internationally as something to be promoted, there is worldwide support for it. Besides, it also supports the rural economy; so we encourage that.”

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