India-South Africa India-South Africa 2019 | Page 37

India-South Africa
Business Summit 2018
United By Legacy, Unifi ed for Prosperity
I
ndia-South Africa Business Summit
(ISABS) 2018, the fi rst of its kind, was
held in Johannesburg in April 2018
to tap the potential of the economic and
commercial relationship between India and
South Africa.
The summit opened at the Sandton
Convention Centre, Johannesburg, in
the presence of the Indian Minister of
Commerce, Industry and Civil Aviation,
Suresh Prabhu, and South Africa’s Minister
of Trade and Industry, Dr. Rob Davies.
India is ready and willing to assist in
development in southern African countries,
Commerce and Industry Minister, Suresh
Prabhu said at the summit, noting that the
region holds huge potential for trade.
The Minister talked about building
synergies between India and South Africa
which are united by legacy and unifi ed for
prosperity. He added that the summit was a
harbinger of good things to come and that
South Africa and India were poised to take
off in the next few years on a higher growth
trajectory. He also talked about the two
oldest friends coming together to extend
their strategic partnership towards a new
progressive era through the business summit.
Suresh Prabhu inaugurated a multi-
sectoral exhibition at Johannesburg
along with Dr. Rob Davies. The Minister
appreciated the large presence of Indian
companies at the exhibition. He expressed
satisfaction with the response received
during the summit for business between India
and South Africa. The Minister said both
Suresh Prabhu with Dr Rob Davies,
Minister of Trade and Industry of South
Africa in Johannesburg.
There was also the release
of a White Paper setting out
the substantive corporate
social responsibilities of
Indian companies based in
South Africa.
sides will work through a time-bound action
plan to benefi t from this summit.
The summit paid a tribute to Nelson
Mandela and Mahatma Gandhi followed by a
plenary session, eight breakaway sessions and
a closing session, all of which sought to chart
the way forward for the India-South Africa
relationship. The summit also witnessed the
signing of a MoU between Invest SA and
Invest India, strengthening a rapidly growing
economic and trade partnership between the
two strategic partner countries.
A meeting of the “India-South Africa
CEOs Forum” was also held wherein key
issues concerning trade, investment, and
promotion of business, were identified
and discussed by the chief executives of
both countries in coordination with the
Confederation of Indian Industries and
BUSA/DTI/BBC.
Two additional highlights of the summit
included a book release of The Red Fort
Declaration - The Legacy 20 Years on,
Commemoration of 20 years of Strategic
Partnership, authored by journalist Fakir
Hassen, which documents the progress of
bilateral relations between the two countries.
There was also the release of a White Paper
setting out the substantive corporate social
responsibilities of Indian companies based
in South Africa.
The summit was also marked by the
presence of trade and industry ministers from
SADC countries and top CEOs and industry
specialists from India, South Africa, and
SADC countries. 
India-South Africa • 2019 • 37