India-South Africa India-South Africa 2019 | Page 39

SPECIAL REPORT
also wonderful for our bilateral economic
partnership. Ladies and Gentlemen, India's
economy currently at 2.6 trillion dollars is the
fastest growing major economy of the world.
And, we are on our way to becoming
the fifth largest economy globally. India
has jumped to the 77th position in the latest
edition of World Bank’s Ease of Doing
Business Report – improving 65 places in
the last four years.
We are one of the top FDI destinations
listed by UNCTAD. But, we are not satisfi ed.
On a daily basis, we are making necessary
changes and reforms in important sectors of
the economy.
Our special programmes such as Make in
India, Digital India and Start-Up India have
caught the imagination of the world.
Our industry has progressed towards
Industry Four-Point Zero and other innovative
technologies including Artifi cial Intelligence,
3-D Printing, Robotics. Our Government
is making all eff orts to increase the living
standards of our 1.3 billion people, who form
one-sixth of humanity.
We are committed to building a ‘New
India’ with next-generation infrastructure
and with emphasis on speed, skill and scale.
May I also take this opportunity to
congratulate you,
Excellency,
On the various dynamic initiatives
launched by you in 2018 towards your
vision of a New South Africa. We wish you
well in your eff orts to attract Foreign Direct
Investment into South-Africa, as well as for
the creation of over one million jobs for the
youth in three years.
I am happy that India is contributing to
these objectives. Our investment in South
Africa is constantly growing. This has
approached 10 billion dollars, creating over
20,000 jobs locally.
As a brotherly nation, India will be happy
to share its experience in policy reforms
and setting up ground level agencies. We
encourage even more investment by Indian
companies in South Africa and are confi dent
that more South African companies will also
enter the Indian market.
I assure you that New India would
We are delighted
to be a part of the
South Africa skills
story through the
recent launch of
the Gandhi Mandela
Skills Institute. This
initiative seeks to
empower the youth.
welcome you to look at all available
opportunities, particularly in Food & Agro-
processing, Deep mining, Defence, Fin-tech,
Insurance and Infrastructure sectors.
Likewise, India could also partner with
South Africa in Start-ups, Health care &
Pharma, Biotech, IT and IT-enabled sectors.
We are delighted to be a part of the South
Africa skills story through the recent launch
of the Gandhi Mandela Skills Institute. This
initiative seeks to empower the youth.
Another important collaboration between
our two countries could be in the Gems
and Jewellery sector. Both countries could
explore avenues for direct procurement of
diamond.
It will ensure economies of scale, and
also reduce the cost for both buyers and
sellers. South Africa could also join hands
with India in our campaign for New and
Renewable Energy, specifi cally through the
"International Solar Alliance”.
Simplifi cation of the existing visa regime
for businessmen and tourists and direct
connectivity would further ease business and
people-to-people exchanges.
Ladies and Gentlemen,
There is huge untapped potential in the
India-South Africa partnership. We must
work together for a new era of shared growth
and prosperity for the benefi t of our two
countries and peoples.
The visit of Your Excellency provides
us with a vital opportunity to take this
relationship forward.
I am committed, Excellency, to work
shoulder-to-shoulder with you in this shared
endeavour.
Thank you.
Thank you very much. 
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