Indian investments in South Africa touch $4 billion

Source: The Hindu Business Line, May 06, 2018

New Delhi: Around 140 Indian companies have invested close to $4 billion in South Africa, creating direct employment for 18,000 people, according to a report.

Sectors where Indian companies have made significant investments include healthcare and pharmaceuticals, IT, automobile industry and finance. Leading Indian companies that have invested in South Africa are Wipro, Coal India, Cipla, HCL Technologies, Tata Motors, Zomato and Mahindra and Mahindra.

The report, ‘Indian Industry’s Inclusive Footprint in South Africa – Doing Business, Doing Good’, released by the Confederation of Indian Industry (CII) and PwC, stated that Indian companies operating in South Africa are not just investing funds and creating jobs, but are actively contributing to the upliftment of the communities in which they operate.

Indian companies are taking steps to transfer skills to South Africans, particularly in the IT sector. This is aimed at equipping South Africans with the skills necessary to deliver locally instead of employing a large expatriate population from India. Indian companies have set up training centres to facilitate exchange programmes between India and South Africa for IT graduates.

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