India South Africa Trade
India exported 4,635 commodities to South Africa in FY24
Last updated: Jan, 2025
Introduction
India’s connection with the struggle for freedom and justice in South Africa dates back to the period during which Mahatma Gandhi started his Satyagraha movement in South Africa over a century ago. The key pillars of development between the nations have been capacity-building initiatives, lines of credit, grant support, small development projects, technical consultation, disaster relief and humanitarian help, and military cooperation.
Introduction
India’s connection with the struggle for freedom and justice in South Africa dates back to the period during which Mahatma Gandhi started his Satyagraha movement in South Africa over a century ago. The key pillars of development between the nations have been capacity-building initiatives, lines of credit, grant support, small development projects, technical consultation, disaster relief and humanitarian help, and military cooperation.
India-South Africa Trade
- In 2023-24, bilateral trade between the two countries reached around US$ 19.25 billion.
- South Africa occupies the 37th position in FDI equity inflows into India with a cumulative FDI amount of US$ 600.16 million from April 2000-March 2024.
India-South Africa Trade
- In 2023-24, bilateral trade between the two countries reached around US$ 19.25 billion.
- South Africa occupies the 37th position in FDI equity inflows into India with a cumulative FDI amount of US$ 600.16 million from April 2000-March 2024.
Major exported items from India to South Africa with amount & quantity
- India exported 4,635 commodities to South Africa in FY24.
- India’s exports to South Africa stood at US$ 8.71 billion in 2023-24.
- Major exported items from India to South Africa include petroleum products (US$ 4.26 billion), engineering goods (US$ 2.19 billion), drug formulations, biologicals (US$ 718 million), organic and inorganic chemicals (US$ 281 million), electronic goods (US$ 264 million), etc. plastic and linoleum (US$ 164 million), etc. in 2023-24.
- India’s export to South Africa stood at US$ 1.39 billion from April-May 2024-25.
- Major exported items from India to South Africa include petroleum products (US$ 746 million), engineering goods (US$ 296 million), drugs and pharmaceuticals (US$ 103 million), organic and inorganic (US$ 50.6 million), electronic goods (US$ 35.1 million) etc. from April-May 2024-25.
Major exported items from India to South Africa with amount & quantity
- India exported 4,635 commodities to South Africa in FY24.
- India’s exports to South Africa stood at US$ 8.71 billion in 2023-24.
- Major exported items from India to South Africa include petroleum products (US$ 4.26 billion), engineering goods (US$ 2.19 billion), drug formulations, biologicals (US$ 718 million), organic and inorganic chemicals (US$ 281 million), electronic goods (US$ 264 million), etc. plastic and linoleum (US$ 164 million), etc. in 2023-24.
- India’s export to South Africa stood at US$ 1.39 billion from April-May 2024-25.
- Major exported items from India to South Africa include petroleum products (US$ 746 million), engineering goods (US$ 296 million), drugs and pharmaceuticals (US$ 103 million), organic and inorganic (US$ 50.6 million), electronic goods (US$ 35.1 million) etc. from April-May 2024-25.
Major imported items by India from South Africa with amount & quantity
- India imported 880 commodities from South Africa in FY24.
- India’s imports from South Africa stood at US$ 10.54 billion in 2023-24.
- Major items imported by India from South Africa include pearl, precious and semi-precious stone (US$ 5.17 billion), mineral fuels and oils (US$ 3.33 billion), pulp and wastepaper (US$ 537 million), ores, slag and fish (US$ 477 million), copper and products made of copper (US$ 239 million), etc. in 2023-24.
- India’s imports from South Africa stood at US$ 1.01 billion in April 2024.
- Major items imported by India from South Africa include pearl, precious and semi-precious stones (US$ 642 million), mineral fuels and oils (US$ 229 million), pulp and wastepaper (US$ 40.2 million), ores, slag and fish (US$ 37.5 million), etc. in April 2024.
Major imported items by India from South Africa with amount & quantity
- India imported 880 commodities from South Africa in FY24.
- India’s imports from South Africa stood at US$ 10.54 billion in 2023-24.
- Major items imported by India from South Africa include pearl, precious and semi-precious stone (US$ 5.17 billion), mineral fuels and oils (US$ 3.33 billion), pulp and wastepaper (US$ 537 million), ores, slag and fish (US$ 477 million), copper and products made of copper (US$ 239 million), etc. in 2023-24.
- India’s imports from South Africa stood at US$ 1.01 billion in April 2024.
- Major items imported by India from South Africa include pearl, precious and semi-precious stones (US$ 642 million), mineral fuels and oils (US$ 229 million), pulp and wastepaper (US$ 40.2 million), ores, slag and fish (US$ 37.5 million), etc. in April 2024.
Economic Relations and Investments
- India-South Africa has completed a meaningful bilateral relationship for 30 years. Both nations have been the other's staunchest supporters and closest allies in fostering reciprocal growth.
- So far, India’s cumulative investments in Africa stand at US$ 70 billion, while the country has extended lines of credit (LoCs) worth US$ 12.26 billion to African countries; 193 projects have been completed and 66 are under execution, while 88 are in their pre-execution stage in various sectors. The investments are related to oil and gas, mining, banking, pharma, textiles, the automotive sector, and agriculture.
- According to data from the Ministry of Finance, Government of India, and the Reserve Bank of India (RBI), approved cumulative India’s investments in Africa from April 1996 to March 2022 amounted to US$ 73.9 billion. Setting up a Wholly Owned Subsidiary (WOS) is the most preferred route of investment for Indian investors in Africa, with nearly 81.6% of the total approved investments from April 2010-March 2022. Joint Ventures accounted for 18.4% of the total approved investments during the same period. Africa’s manufacturing sector attracted the highest Indian investments from April 2010-March 2022. Other major sectors attracting Indian investments include financial, insurance, real estate, and business services, agriculture and allied sectors, transport, storage, and communication services.
- Prime Minister, Mr. Narendra Modi met the President of South Africa, H.E. Mr. Cyril Ramaphosa, on June 27, 2022, on the sidelines of the G-7 Summit in Schloss Elmau, Germany. They expressed satisfaction at the progress achieved in defence, education, and agriculture sectors, and reiterated the need for further deepening bilateral cooperation in areas like trade and investment, food security, defence, pharmaceuticals, digital financial inclusion, skill development, insurance, health, and people-to-people contacts. Both leaders also welcomed the WTO agreement reached in June 2022 that supports the production of COVID-19 vaccines in developing countries.
- The 17th edition of the Confederation of Indian Industries (CII) and Export-Import (EXIM) Bank Conclave on India-Africa Growth Partnership took place on July 19-20, 2022. Over 1,000 representatives from governments and businesses from various African countries attended the conclave.
- The 11th Session of India-South Africa Foreign Office Consultations was held on August 3, 2022 in New Delhi. The Consultations were co-chaired by Mr. Puneet R. Kundal, JS (East & Southern Africa), Ministry of External Affairs, and Ms. Ntombizodwa Msutukazi Lallie, Acting Deputy Director-General Asia and Middle East, Department of International Relations and Cooperation, Republic of South Africa.
- The India-Africa Defence Dialogue (IADD) was held on the sidelines of DefExpo 2022 in Gandhinagar, Gujarat on October 18, 2022. The dialogue successfully brought out various aspects of the IADD’s theme ‘Adopting Strategy for Synergizing and Strengthening Defence and Security Cooperation’. Delivering the keynote address, Raksha Mantri, Mr. Rajnath Singh defined the theme of IADD as the underlying commitment of India and African countries to explore new areas of convergence for defence engagements, including capacity building, training, cyber security, maritime security, and counter-terrorism.
- Prime Minister Mr. Narendra Modi visited South Africa from 22-24 August 2023 to participate in the 15th BRICS Summit and in the BRICS-Africa Outreach and BRICS Plus Dialogue. Prime Minister also met H.E. Mr. Cyril Ramaphosa, President of the Republic of South Africa on 23 August in Johannesburg on the sidelines of the BRICS Summit.
- An MoU on Cooperation in the Reintroduction of Cheetah in India was signed between the Republic of India and the Republic of South Africa on 17 January 2023. The MoU facilitates cooperation between the two countries, inter alia, to establish a viable and secure cheetah population in India. A first batch of 12 cheetahs (7 males, 5 females) were translocated from South Africa to India on 18th February 2023.
Economic Relations and Investments
- India-South Africa has completed a meaningful bilateral relationship for 30 years. Both nations have been the other's staunchest supporters and closest allies in fostering reciprocal growth.
- So far, India’s cumulative investments in Africa stand at US$ 70 billion, while the country has extended lines of credit (LoCs) worth US$ 12.26 billion to African countries; 193 projects have been completed and 66 are under execution, while 88 are in their pre-execution stage in various sectors. The investments are related to oil and gas, mining, banking, pharma, textiles, the automotive sector, and agriculture.
- According to data from the Ministry of Finance, Government of India, and the Reserve Bank of India (RBI), approved cumulative India’s investments in Africa from April 1996 to March 2022 amounted to US$ 73.9 billion. Setting up a Wholly Owned Subsidiary (WOS) is the most preferred route of investment for Indian investors in Africa, with nearly 81.6% of the total approved investments from April 2010-March 2022. Joint Ventures accounted for 18.4% of the total approved investments during the same period. Africa’s manufacturing sector attracted the highest Indian investments from April 2010-March 2022. Other major sectors attracting Indian investments include financial, insurance, real estate, and business services, agriculture and allied sectors, transport, storage, and communication services.
- Prime Minister, Mr. Narendra Modi met the President of South Africa, H.E. Mr. Cyril Ramaphosa, on June 27, 2022, on the sidelines of the G-7 Summit in Schloss Elmau, Germany. They expressed satisfaction at the progress achieved in defence, education, and agriculture sectors, and reiterated the need for further deepening bilateral cooperation in areas like trade and investment, food security, defence, pharmaceuticals, digital financial inclusion, skill development, insurance, health, and people-to-people contacts. Both leaders also welcomed the WTO agreement reached in June 2022 that supports the production of COVID-19 vaccines in developing countries.
- The 17th edition of the Confederation of Indian Industries (CII) and Export-Import (EXIM) Bank Conclave on India-Africa Growth Partnership took place on July 19-20, 2022. Over 1,000 representatives from governments and businesses from various African countries attended the conclave.
- The 11th Session of India-South Africa Foreign Office Consultations was held on August 3, 2022 in New Delhi. The Consultations were co-chaired by Mr. Puneet R. Kundal, JS (East & Southern Africa), Ministry of External Affairs, and Ms. Ntombizodwa Msutukazi Lallie, Acting Deputy Director-General Asia and Middle East, Department of International Relations and Cooperation, Republic of South Africa.
- The India-Africa Defence Dialogue (IADD) was held on the sidelines of DefExpo 2022 in Gandhinagar, Gujarat on October 18, 2022. The dialogue successfully brought out various aspects of the IADD’s theme ‘Adopting Strategy for Synergizing and Strengthening Defence and Security Cooperation’. Delivering the keynote address, Raksha Mantri, Mr. Rajnath Singh defined the theme of IADD as the underlying commitment of India and African countries to explore new areas of convergence for defence engagements, including capacity building, training, cyber security, maritime security, and counter-terrorism.
- Prime Minister Mr. Narendra Modi visited South Africa from 22-24 August 2023 to participate in the 15th BRICS Summit and in the BRICS-Africa Outreach and BRICS Plus Dialogue. Prime Minister also met H.E. Mr. Cyril Ramaphosa, President of the Republic of South Africa on 23 August in Johannesburg on the sidelines of the BRICS Summit.
- An MoU on Cooperation in the Reintroduction of Cheetah in India was signed between the Republic of India and the Republic of South Africa on 17 January 2023. The MoU facilitates cooperation between the two countries, inter alia, to establish a viable and secure cheetah population in India. A first batch of 12 cheetahs (7 males, 5 females) were translocated from South Africa to India on 18th February 2023.
Conclusion
India and South Africa share a long and prosperous relationship, with our freedom movement inspiring African nationalists in their desire for independence from colonialism. Nowadays, India and South Africa desire a mutually beneficial relationship by collaborating through lucrative trade and investment opportunities.
Conclusion
India and South Africa share a long and prosperous relationship, with our freedom movement inspiring African nationalists in their desire for independence from colonialism. Nowadays, India and South Africa desire a mutually beneficial relationship by collaborating through lucrative trade and investment opportunities.
Contacts
- High Commission of India, Pretoria, South Africa
Address: 852, Francis Baard Street, Arcadia 0083, Pretoria, South Africa
Telephone Number: +(012) 3425392-5
Officials:
Mr. Prabhat Kumar – High Commissioner
Email: hc.pretoria@mea.gov.in
Mrs. Banu Prakash - Deputy High Commissioner
Email: dhc.pretoria@mea.gov.in - South African High Commission, India
Address: B -18, Vasant Marg, Block B, Vasant Vihar, New Delhi, Delhi 110057
Email: newdelhi.dha@dirco.gov.za
Telephone: 009 111 26149411
Officials:
Mr. J. S. Ndebele - High Commissioner
Contacts
- High Commission of India, Pretoria, South Africa
Address: 852, Francis Baard Street, Arcadia 0083, Pretoria, South Africa
Telephone Number: +(012) 3425392-5
Officials:
Mr. Prabhat Kumar – High Commissioner
Email: hc.pretoria@mea.gov.in
Mrs. Banu Prakash - Deputy High Commissioner
Email: dhc.pretoria@mea.gov.in - South African High Commission, India
Address: B -18, Vasant Marg, Block B, Vasant Vihar, New Delhi, Delhi 110057
Email: newdelhi.dha@dirco.gov.za
Telephone: 009 111 26149411
Officials:
Mr. J. S. Ndebele - High Commissioner
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