Union Commerce and Industry Minister PiyushGoyal held bilateral discussions with South Africa’s Minister of Trade, Industry and Competition, Parks Tau, with the meeting focused on deepening trade relations and identifying collaborative ventures in manufacturing, pharmaceuticals, and critical minerals. Both sides discussed the signing of Terms of Reference for the India-SACU PTA and the early conclusion of negotiations, along with strengthening overall trade engagement between the two countries.      The discussions come as India looks to secure resilient supply chains for critical minerals needed for clean energy technologies, advanced manufacturing and strategic industries. Trade between India and Africa has grown from $7 billion in 2001 to over $98 billion in 2023, with combined economic potential nearing $7 trillion.   The meeting was held as India hosts the BRICS Trade Ministers’ Meeting in Jaipur under its BRICS India 2026 Presidency, which brings together BRICS nations to strengthen trade and economic cooperation, foster innovation, build resilient value chains and promote sustainable industrial growth. India and South Africa maintain a broader strategic partnership spanning trade, investment, defence, science and technology, and education, with cooperation also carried out through multilateral forums such as BRICS and IBSA.

The SACU Secretariat in Namibia has already shared the Terms of Reference with India’s Department of Commerce, building on ongoing trade engagements between the two sides.