The business interaction meet between South African trade team and domestic industry evoked a good response in which around 103 Indian SMEs took part. A delegation comprising 20 small and medium enterprises from South Africa visited Hyderabad on March 25- 26.
During the two-day meet, 46 letters of intent (LoI) were signed; 13 import-export arrangements negotiated and 12 joint ventures planned.
Majority of the LOIs related to exporting garments and fabrics, jewellry, processed fruits and vegetables, honey, finished leather and footwear and artifacts from India. Similarly, LOIs were also signed for outsourcing software jobs from Indian software companies.
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One MoU was signed between Chemlog of South Africa and ENFAB of India for setting up a joint venture in India for manufacturing of detergents and cleaners used in kitchen, laundry, industry and housekeeping applications.
The delegation was led by Jacky Kola, programme manager of the matches& business linkages of NTSIKA enterprise promotion agency, an organisation of the Government of South Africa, engaged in the promotion of small, medium and micro enterprises.
Apitco coordinated the visit and organised a business interaction meet and one-to-one business meetings between the South African delegates and intending Indian SME partners.
All the 71 business meetings were fruitful paving the way towards bilateral trade improvement, S Srinivasa Rao, the managing director of Apitco, said in a press release issued here.
Major response was from the software sector followed by readymade garments, fabrication, construction, leather and footwear, food processing, plastics and rubber, chemicals and packaging sectors, he added.
Intense business negotiations were held in the sectors of readymade garments, fabrics, linen and pillows, furnishings, software, jewellry, fruit processing, stainless steel fabrication, construction, industrial chemicals, leather and footwear and glass fittings.
The joint ventures planned are for providing technology by Indian SMEs in the areas of low cost housing, manufacturing leather goods and readymade garments.