New Delhi, July 2: Confederation of Indian Industry (CII) has said that South Africa could emerge as an attractive destination for India's textiles and garments as there are no quota restrictions on garments imports, a sector where the Indian small industry are dominantly placed.Similarly, because of the South African government's thrust in the areas of healthcare services, it is expected that there will be a significant rise in demand for drugs and formulations from India.
The Indian small industry has once again proved its resilience in international markets when 40 Indian SMEs received business worth Rs 250 million and generated around 728 inquiries at enterprise India. The four- day exclusive fair was organised by the CII jointly with the Consulate General of India, Durban for SMEs to showcase their capabilities and products in Durban, South Africa from 20th-23rd June 2000, coinciding with the Southern Africa Economic Summit 2000 of the World Economic Forum (WEF), an arm of UNIDCO. The fair also saw a number of companies appointing agents, CII added.
Enterprise India was inaugurated by minister of state (independent charge) for SSI and ARI Vasundhra Raje along with wth premier of the Kwa Zulu Natal province, LPHM Mtshali on June 20 at Durban Exhibition Centre, Durban.
The fair is expected to provide a greater boost to the bilateral trade between India and South Africa. Bilateral trade between the two countries, CII observed, had witnessed a phenomenal growth doubling from $891.06 million in 1997-98 to $1732 million in 1998-99.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.