India and South Africa have agreed to strengthen their bilateral trade and cooperation in critical minerals, pharmaceuticals and manufacturing sectors, said Union Minister of Commerce and Industry Piyush Goyal.
The decision was taken following a meeting between Goyal and South Africa’s minister of trade, industry and competition, Parks Tau, on the sidelines of the BRICS 2026 Trade Ministers’ Meeting in Jaipur.
The discussions focused on making progress on the proposed India-Southern African Customs Union Preferential Trade Agreement (PTA), with both sides emphasising the early signing of the Terms of Reference and expediting negotiations.
The meeting aimed to deepen bilateral trade and investment while ensuring strong supply chains for critical minerals, clean energy technologies, advanced manufacturing and other strategic sectors.
India, which is hosting the 2026 BRICS Trade Ministers’ Meeting under its presidency, vows to promote trade, innovation and industrial growth among the member nations, Goyal said.
As per official figures, bilateral trade between India and Africa has increased to $98 billion, while overall Indian investments in the African continent have risen to $75 billion, primarily in telecommunications, pharmaceuticals, infrastructure and agriculture.
The agreement is expected to open new avenues across healthcare, artificial intelligence, fintech, investment and technologies for manufacturing and digital infrastructure.
India has been rapidly advancing and seeking new avenues of trade in Africa, the European Union and Western nations in a bid to strengthen domestic industries, especially manufacturing.
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