India and South Africa have discussed expanding bilateral cooperation in critical minerals, pharmaceuticals and manufacturing, Commerce and Industry Minister Piyush Goyal said on Thursday after meeting South Africa’s Minister of Trade, Industry and Competition, Parks Tau, on the sidelines of the BRICS 2026 Trade Ministers’ Meeting in Jaipur.
The ministers also reviewed progress on the proposed India–Southern African Customs Union (SACU) Preferential Trade Agreement (PTA) and discussed advancing negotiations.
“We discussed the signing of Terms of Reference (ToRs) for India-SACU PTA and early conclusion of negotiations, strengthening the India-South Africa trade engagement and explored opportunities for cooperation in the critical minerals, pharmaceuticals and manufacturing sectors,” Goyal said in a post on X.
India is hosting the BRICS 2026 Trade Ministers’ Meeting in Jaipur as part of its BRICS Presidency. The meeting has brought together member countries to strengthen trade and economic cooperation, foster innovation, build resilient value chains and promote sustainable industrial growth.
The discussions on critical minerals come as India seeks to secure resilient supply chains for resources essential to clean energy technologies, advanced manufacturing and other strategic sectors.
Meanwhile, trade between India and Africa has grown from $7 billion in 2001 to more than $98 billion in 2023, while cumulative Indian investment in the continent has exceeded $75 billion, primarily in telecommunications, pharmaceuticals, infrastructure and agriculture, according to data compiled by the India Africa Entrepreneurship Forum (IAEF).
The IAEF estimates that India and Africa together represent a combined economic potential of nearly $7 trillion, with expanding opportunities in healthcare, artificial intelligence, fintech, climate technologies, manufacturing, logistics and digital infrastructure.
(With inputs from IANS)
