The team will visit India to participate in the 6th annual India Investment and Trade Initiative (ITI) scheduled to take place in Hyderabad and Kolkata from February 23 to 27.
The ITI is part of the Department of Trade and Industry's export and investment promotion strategy to focus on India as a high-growth export market and foreign direct investment (FDI) source.
Masina said that as a follow-up to the 5th ITI held in March, 2014, this delegation comprises South African companies seeking to attract FDI as well as companies seeking joint venture partnerships in the agro-processing, cosmetics, pharmaceuticals, mining and mineral beneficiation, infrastructure, architecture and renewable energy sectors.
"Closer economic ties are also fostered using initiatives such as the Joint Ministerial Commission and business engagements facilitated through the SA-India CEOs Forum," Masina said.
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"Beyond bilateral relations, South Africa and India remain committed partners and are determined to strengthen the South-South Cooperation in the context of IBSA (India, Brazil and South Africa) and BRICS.
"These forums are an undertaking by countries with shared interests in a multilateral system to address political, social and economic matters," the Minister added.
India ranks among the top 10 investing countries in South Africa.
Between January, 2009 and June, 2014, a total of 44 FDI projects from India were brought in a total capital investment of 18.25 billion South African Rand (over USD 1.5 billion).
The total trade between India and South Africa was worth 80.9 billion Rand in 2013, with a trade balance of 22.9 billion Rand in favour of India.