um just over $8 billion um in India but we seeking to invest more. We have a lot of appetite for India. Uh it's a key focus area uh for us as as a company. Thank you. >> Good morning. I'm Ellas Mon, the president of both the black business council in the country and also the president of steel engineering and industry federation of uh southern Africa. We operate in uh 14 countries in Saddaka from the steel side. Uh over and above that I'm the executive chair of Arabella Holdings. Um we own number of companies both in the electrical space where we um manufacture uh electrical kiosk. We do the uh enclosure for different applications for switch gear for transformers. We also then own a a metal fabrication business where we supply and manufacture um various uh mining uh products uh bolts mesh and components in the downream. So those are some of the things that we do. Thank you. >> Okay. Thank you. I'm I'm Ayand Salua. I'm the chairman of Discovery Health, which is the largest uh private health insurance administrator in South Africa. We've expanded to a number of of of geographies apart from South Africa to the UK, pen Asia and also um to China in partnership with Pingan. We've got a lot of interest in India and currently in discussions with quite a few groups in India. Thank you. >> Good morning everyone. I'm Sachin Auja. We are a diversified metal manufacturing group ranging from steel, aluminium, copper and energy for our own captive [snorts] use and recently we have entered into lot of mining space also and it's a very interesting journey born in India made in South Africa put it that way. Yeah thank you. >> Good morning colleagues and uh thank you for welcoming us so well while we during this few days. I'm Nisam Kala from Ma Products and we manufacture personal care products, homeopathy, neutrauticals and pharmaceutical products. We export into about 60 countries and we're looking for opportunity to grow from strength to strength. Thank you. >> Good morning everybody. My name is Tabula Mala. I am the executive vice president at Sassol. We are an integrated chemicals and energy company uh based in South Africa listed on the Johannesburg Stock Exchange as well as the New York Stock Exchange uh but we operate in numerous countries worldwide. Thank you. >> Good morning everyone. I'm Sushian Ple also from Cassell. I'm the executive vice president for all our new business activities, technology, research and uh just to add to what my colleague said, uh SAS is the world leader in fisher trops technology. Why that's uh relevant is South Africa is blessed with coal resources similar to India and uh we operate the world's largest coal to liquids facility also a number of gas to liquids facilities uh and and and we have the ability then to convert uh feed stocks like coal biomass uh carbon dioxide to fuels and chemicals. So um that's the technology that technology advantage that we have. Good morning colleagues. Uh my name is To Gulu. I'm the president of the South African Chamber of Commerce and Industry. I also serve as a chairman of the trade and investment working group of the bricks business council. As a business leader, I own an investment holding company called JSX Investments. It's a private investment holding company. We are exposed um in ICT in South Africa being a shareholder in a company called Neshwa with 42 present 42 uh uh operations throughout um South Africa. We involved in mining in a province called Bumalanga in um South Africa. Uh we are also involved in infrastructure concession investment. uh having been the founding investors in uh South Africa's first rapid rail transport called the cow train uh so um being um one of the the biggest infra investment in South Africa we also uh are exposed to property uh the country's largest property valuation company called DDP valuers uh last but not least uh electrical and power uh cable manufacturing a company called African Cables uh which is involved obviously in a power infrastructure within the Sadic region and uh our last business is in the after sales automotive industry through our shareholding in a company called Maidas uh which is a after sales service in South Africa. So it's a diversified group but strategic assets within the value chain of the South African uh market. Thank you. May I just request that we stand up for the arrival of the president? [applause] Thank you. Thank you. Thank you very much, Mr. President. I I was indicating, Mr. President, that I am today I'm playing the role of of of the son. I'm I'm preparing the room for my father's arrival. So, I I had asked that the the the two sides introduce themselves to each other, but I indicated that once you arrive, I'll ask them to do it again. um so that for your for your benefit as well you could know who's in the room and uh as I had indicated ladies and gentlemen uh thank you very much for for your presence it is really a great honor for us and on behalf of the South African government I would like to thank especially the the Indian business leaders for availing themselves for this opportunity to meet with with our president and I indicated Mr. president that one of your principal tasks in the past uh 10 years or so has been to try push through structural transformation in the South African economy by way of improving the investment climate and making sure that we get as more uh quality investment as is possible for the growth and development of our country and that you've been working very closely and very well with South African local business in getting through the structural reform pro program so that we could enable that sort of investment to to take off. And I also have the pleasure then of working in your government and I I have a clear understanding of the sort of uh focused work that you want us to pursue in making the ease of doing business possible and easy for for for all investors. And that as part of this exercise of the the BRICS um leaders summit, you also want to have a very intimate understanding of the needs and wants of the investment community for them to see South Africa as an investment destination that makes sense for them as they pursue higher returns on their capital but also to pursue those investments in a manner that also accords with South Africa's growth and development. So Mr. President because I had uh stopped them halfway through. I'm just going to ask that the Indian counterparts first um introduce themselves to you and then we will segue back to the ones from home because at least we know them, they know you, we we are one happy family. So I'm going to ask first the director general of CI to start us off with the introductions of the Indian side of the table. Thank you. Thank you program director, excellency uh the president uh uh it's an honor and pleasure to be here with you. We will uh just do short introductions of the Indian delegation here. Excellency, it's a it's it was great listening to you yesterday. Uh and second I just wanted to also mention that uh we from the CI conferation of Indian industry and Indian industry in general we have been meeting and calling on you for more than a couple of decades. Uh you have been uh very involved with business and with CI we have been able to work with many institutions in Africa over the last few decades. uh be it the BBC, be it the B4SA, be be it the Busa and we operated an office also in um uh South Africa and which we want to restart u and your visit today would only help us do it once again. So we stand committed as an Indian industry uh to work very closely with your country. Thank you >> excellency. Good morning and uh it's a privilege to get the opportunity to interact with you and uh as uh Chandit said I think we were uh your your message yesterday at bricks was very well received by the industry. I think you touched [clears throat] upon very important subjects for uh economic cooperation for the common good and that's something that really resonates with us. I'm Sanjie Puri. I'm the chairman of ITC Limited. It's a diversified group with interest in agriculture, food processing, consumer package goods, paperboard packaging, hospitality and information technology. And uh we have uh started our journey in South Africa. We have a uh small uh I would say right now small but hopefully over over time it will grow and investments in information technology. We have a setup there, a center there and uh we have also been u although it's small but we've been investing a lot in training people there uh money and we look forward to building on this uh relationships we also have some trade with South Africa both imports and exports but more importantly we look forward to actually doing something more on the ground the what we have started we want to kind of build on it and take it forward because we see the opportunity. Thank you. >> Um, good morning excellency. Uh, welcome to India to you and the entire delegation here from the Indian business houses. Uh, my name is Rajan Bharti Vittel. I'm the vice chair of Bharti Hel. It's a telecom company. Though we are in a diverse uh group uh in hospitality, real estate but telecom is our main foray. uh we run in uh South Asia, India being predominantly as well as in 15 countries in Africa unfortunately nothing in your country. We had an aborted uh in 2008 2009 if you remember with MTN uh we tried our best to come to your country but I have to be honest to say we were not welcome and we left it and then bought Zane. Uh that's historical. uh president uh Zuma was there at that time and we went through the loops but there's always an opportunity uh India u South Africa enjoy a great both political economic and people-to-people [clears throat] relationship uh I've had the opportunity to meet your leadership many a times uh just on the political side my father used to head the apathide anti-apathide regime at that from India at that time when uh the entire apaththeide movement was going around. I had the opportunity to meet uh the great leader Mr. Mandela. So, it's an honor um to be here and uh to work with the leadership. I hope we get an opportunity. Good morning uh excellency, good to see you again this morning. Thank you for your comments yesterday and your speech. It was uh uh really enlightening and encouraging. Um, UPPL is uh is my family business. I'm chairman. I'm also a bricks uh business council chair uh for India and chairing this uh council. UPPL is very involved in agriculture globally. We are present uh in almost all the markets around the world in 140 countries and South Africa is very important uh market for us. We are involved uh directly uh in uh in supporting all the uh farmers in the Cape and the corn farmers, the sugar farmers for many many years and uh across Africa and uh really focused on uh how and working with with uh your government to help uh improve livelihoods for farmers. I think it's very very important that uh [snorts] we focus on that. I think every government across the world is very concerned on food security and I think very um very important that we make strategic decisions to improve livelihoods of farmers so they have financial inclusion resilience. uh it's uh it's a forgotten forgotten uh uh uh industry right farmers feed us uh but I think we don't appreciate the amount of food we eat and it comes because of technology uh and we're very focused on helping Africa uh South Africa uh and around the world to to really improve livelihoods of farmers and I'm looking forward to sharing some ideas with you leader. >> Excellency, it is an honor to be in this room. I'm Shashwat going, vice chairman of the RP Sanjie Goena Group, a diversified conglomerate which is in integrated energy from generation, manufacturing and distribution to chemicals, technology, consumer services, sports and IT. We ventured into South Africa three years ago with two of our businesses, sports with the Durban Super Giants in the SA20 and um with First Source Solutions, our technology business where we employ over 4,500 people in Cape Town. And if I could say it in one line, it has been an absolute privilege to work in the country. We have had such simple movement of everything related to our businesses that it has really been a pleasure and a privilege to work in the country and we look forward to increasing our investments in South Africa. Thank you >> excellency. [clears throat] I'm an old veteran of South Africa, a comrade. We have investments. In 2002 we had a joint venture with Fossar Falabora and Richard's way through IDC and I've had the pleasure of meeting your good self uh several times. Then we had put up because in Falabura we had 50 million tons of iron ore deposit. We have put a benefication plant there and we believe in [snorts] South Africa growth story and thanks to you. Yesterday you highlighted benefications. So we have already beneficiating fertilizers rock phosphate we are making Finnish fertilizers and also the iron ore and uh intra bricks trade you said and local currencies we support it. I was humbled to be honorary council general of South Africa for 12 years. I unwillingly had to relinquish the charge when I was nominated to the upper house of the parliament two years back and we believe in South Africa story and making agree inputs uh at affordable prices to farmers across Africa. Thank you. >> Uh good morning sir. Uh uh you already know sir uh we are into electric buses and energy storage and uh South Africa has been our home ground for almost 10 years and uh clearly we see that it is a land of opportunities under your reel leadership and uh we have been growing there consistently but I think we are still at the tip of the iceberg and with our energy storage electric vehicle EV charging solutions we would look to see that how we can expand further under your leadership sir. Thank you. Good morning uh excellency. Uh my name is Tribun Darbari. I'm the managing director and CEO for Texme Defense and chief executive for Texme Rail and Engineering Limited which is a flagship of the 3.5 billion advanced group earlier known as the KK builder group. We are very diversified group into railways uh EPC uh it's end toend solutions rolling stock uh OE track laying and construction track maintenance we are also into agri business we're one of the largest in the fertilizer segment in the country parad phosphates Mangalore chemical fertilizer zari agroa and chambal fertilizer uh we are also into uh EPCM for construction of uh prochemical plants for construction of fertilizer plants and uh also into defense manufacturing. Uh, excellency, I had the privilege of meeting you a few years back >> and uh that time I just made a presentation that our intent and purpose of the group to come into Africa to do business with Africa in partnership with the players of Africa and today I'm so humbled and proud to mention that recently few months back we have backed a very prestigious order for supply of 2,300 freight wagons from the uh Republic of South Africa for 30 diesel locomotives for uh the South African railways and uh this is a big order. It's a $430 million US order and uh um we are in partnership with uh Seco Africa. Uh Dr. Panther is here and the Barbrey Holdings. Um we besides this uh advanced group role, I'm also the chairman of the Beamst Business Council and have been chairing the Shanghai Cooperation Organization Business Council, the two multilateral platforms under the AGS of the MEA and uh we look forward to this is only a beginning of a story. We look forward to expand and do wonderful business in South Africa. Thank you. >> Thank you. Thank you very much sir. Um Kinesh I think I cut you. So you you have the privilege of introducing yourself to the president because I cut you. So please go ahead brother. >> Thanks DM. Um present your excellency and all esteemed guests. I'm Dr. Kinesha uh the group chairman of um the seco Africa group and also the president of cyber the South African entrepreneurs business association uh which has circuit 200 members that come from big family-owned businesses and and entrepreneurs in the in in South Africa. um on analysis of the members of cyber they contribute in in terms of all their business contribute circa 500 billion to the South African GDP and employ circa 300,000 people in South Africa so so it's big contribution from entrepreneurs black entrepreneurs white entrepreneurs across the the border in in in South Africa uh apart from that as group chairman of SEO Africa we in a diverse ified investment group. Um we're in ICT um specifically in big data and and digital. Uh we're in mining in the PGM sector and and the chrome sector and we've now moved into critical minerals as well. So we we we partner with uh with with established companies in in this regard. On the energy side, um we the local partners for total South Africa. Uh but we also have upstream assets in in gas and helium that we exploring for in South Africa in the free state basin and in the Lopo basin as well. Uh alongside that we also steel in steel as partners with Oslo Metal in South Africa and I think lost we are in rail on been appointed as a TOC a train operating company in South Africa. Um we pretty much have got 21 slots on the new rail reform strategy that the government has has implemented and on the basis of that we've uh secured our full funding to acquire assets both in rolling stock and in locomotives and pleasantly you know we've partnered with Tex Marco out of India uh and excitingly they've agreed to set up a manufacturing and uh maintenance facility in South Africa and and that's not just for South Africa it will be for the SADC region and subsaran region to start manufacturing rolling stock and uh locomotives they are partners with webtech and they bring the web techch uh technology to back into South Africa >> thanks >> thank you thank you very much for that so Mr. President, I think there's a there's there's sufficient firepower in the room from both sides to give us the sort of partnerships that can catapult us to an 8% growth rate if if if done right. But I'm going to ask the director general of the confederation of uh Indian industry to kick us off just giving an overview of the forum and and the work that the attendees in this room are doing. So Mr. Banji, please come to the podium. Thank you very much. program director. Thank you very much. Uh excellency the president of the Republic of South Africa uh ministerial presence from South Africa, fellow South African businesses, Indian businesses present here. Sir, with your permission, may I first start with a word of congratulations? We all heard the excitement that was created in the Indian business yesterday when you addressed South Africa has really also shown phenomenal uh resilence and leadership through a period when the globe has been challenged. So your G20 presidency that was historic in Jonburg summit the first G20 leader summit on African soil that really I believe and we all believe in the Indian industry placed Africa firmly at the center of the economic agenda. We've seen the structural reform. We heard just about it. uh the that you have spearheaded across areas like the power sector of which we know so well that what you have done energy logistics even visas and other areas uh which decide competitiveness of working between the two businesses has been really encouraging and South Africa's upgradation as we have seen it of its sovereign credit rating under your leadership the first in two decades that also really uh strengthens the further furthering of marketing marketing of of South Africa across the globe. Under your leadership again we have noted South Africa has demonstrated its commitment to stability, its commitment to dialogue and commitment to reform. Industry really looks up to these these very very vital issues which you have led and they tell investors that South Africa is moving forward. Excellency, you have spent a significant part of your life in business itself. You understand perhaps better than most of us over here that confidence must translate into investment. You spoke about it yesterday. Investments into enterprises, enterprises into jobs and jobs into prosperity. Excellency. Second, if I may, India and South Africa today are building on a substantial deeper relationship as we have seen the connect between the leadership of our two countries. Our institution CI's engagement with Africa goes back a few decades. In the late uh 90s we establish established a dedicated Africa division recognizing the importance of our bilateral strategic relationship. In 2010 we brought the India show an India show into Johannesburg with the help of our friend Mr. Vivian Ready. And it was then 20 years ago that the CI India Africa business conclave organized with the government of India brought governments and businesses across Africa to come in. But most important in today's context uh was in 20 in the 20th edition South Africa was the leading partner country through the mining in Indaba business delegations and India business forum that was established between South Africa. We have been able to connect companies across the sectors that you heard from the your right side of the table. Uh mining, pharmaceuticals, automobiles, IT, energy, engineering, skill development and excellency most importantly youth connect and during India's G20 presidency in 2023 uh we created a B20 action council on African in economic integration. Even as India at that time successfully championed the African Union's uh permanent membership into the G20 as you know sir both flowed from the same conviction that South Africa must have a stronger voice and uh in this global economic order. So South Africa is India's largest trading partner in Africa and we we as you have heard we are keen keen very keen to work on this. We want to work on what you have said again bilateral investment bilateral trade and create livelihood. So listening to you and really looking deep into this relationship we have five key outcomes as I I see quickly one South Africa brings sophisticated industry deep financial markets mineral resources and access to a phenomenally rapidly growing African market. These in uh strengths are complimentary. Excellency, we should build it together. We want to build it together between our two businesses. Not merely trade with each other which you have underlined. Excellency critical minerals. You mentioned about it also and we would like our group of industrialists of present here to be invested in South Africa on that and grow and add value. Third, technology and the green economy. Digital public infrastructure, fintech, artificial intelligence, health technology, green hydrogen, electric mobility. India has built solutions at population scale. South Africa has world-class capabilities if I may say of its own. And together we will build not for our two countries but we do believe under the leadership of yours and our prime ministers we can build it as for global south. Fourth, the architecture that enables business indust uh b business industry would welcome the progress towards concluding of the India saku preferential trade agreement that's something that we look forward and that we believe will be a great catalyst excellency for trade is simply it's easier to do business and uh we heard the moderator mentioning about the ease of doing business which you have championed and lastly institutionalize this partnership. We are very keen to restart and reboot the businessto business a forum which which Vivian and I have been speaking about and with your blessings and with our government's blessings we would like to start a B2B dialoguing uh at a more institutional way and keep seeing to it that not only CEO's delegations but even sectoral delegations from India visit South Africa on a regular basis. With that, I'd like to conclude with a warm vote of thanks to you, sir, and also commit that we will be there as an industry delegation very soon on a date and time convenient to your government and shall restart the CI office in South Africa. Thank you. Thank you very much, EXCELLENCY. [applause] >> Thank you very much, Director General, for those marks. Just I will quickly ask Mr. Vivian Reddi who's the executive chairman of uh Edison Corporation to also offer us remarks on behalf of South African business and just for 5 minutes Mr. Ready just to give us a sense of what South African business views as this partnership. Thank you. >> Right. Thank you. Um your excellency presidenta uh minister leola the deputy minister um the [clears throat] uh we have some important members in fact to our Indian colleagues the president and this visit so it's so important this gathering that he's also had his DG there's a is a special advisor on investment Alistister ra is a very important person that you want to meet is out at the and and his chief of staff and we also recognize a high commissioner of SA to India Dr. Anil Suklal who's resetting the relationship between India and South Africa and it is is doing a great job. Mr. President, thank you for your leadership and support. Your presence here today sends an important message. Business partnership between South Africa and India's matters to the future of both our countries. I must also acknowledge deputy president Paul Mashell who encouraged me to insist in reviving a CEO of South Africa India co forum which used to exist in the past and during his recent visit to India and it helped to create a momentum for today's gatherings to our Indian counterparts thank you for your attendance and commitment to grow the business relationship between our two countries our purpose today is simple history brought South Africa Africa and India together and business must now carry the relationship forward forward and we share a remarkable history that's well documented and the first CEO forum group was established in 2004 during president Tabucki's presidency followed by the state visit of Indian president Dr. Kalam it placed business leadership at the heart of our economic relationship. Its original co co-chairpersons were two outstanding leaders Dr. Patrick Mutpe and the late Ratan Tata and I thought Mr. But it's important to give you this history to see where we going forward from here. And this forum gave stature, credibility and commercial purpose. In the second meeting in Mumbai in May 2005, advanced cooperation across CC key sectors of our economies were discussed. Ratant Tata's commitment extended beyond the forum. He served on President Beck's international investment council and advised the president in his personal capacity. This was an extraordinary demonstration of trust. One of India's most respected industrialists contributing directly to South Africa economic thinking. Prime Minister Ma Man Manm Singh's engagement with a forum during his 2006 visit further strengthened strengthened this partnership. Today we honor those pioneers that started the forum. And to all our business leaders present, you bring fresh capabilities and vision to relaunch the relationship. And together we have the experience to understand what is possible and the energy to take it further. Our connections also extend beyond boardrooms. India cinema, tourism and cultural exchange have brought our people together. Jonasburgg's hosting the international film academy awards in 2003 with Amita Bachan as a brand ambassador demonstrated the power of culture to strengthen this bond. Mr. President, I had discussions with the brand ambassador board and we have a great asset in South Africa. We got a great cricketer called Jonty Roads. His child was born in India and he's named India. He lives between India and Durban, Goa and Durban. And everyone remembers that flying catch. All the in the world remembers it. And that's the link between South Africa and India. He must be used as our brand ambassador to promote South Africa and India. And he's well loved. The Indians love him. And these are the things. And the other aspect we got to do, Mr. President, we have to have an SAA flying to India. We have no direct flight. Robert Gomed in his private jet came here in 9 hours. We all were here in 17 hours. We we need that interaction you know so that's going to help us a great deal and commerce flourishes when people know understand and trust one another in July 2016 I had the privilege of co-chairing the business forum with Mr. Adi Goodridge during Prime Minister Narendra Mod's visit to Durban and unfortunately Mr. Godridge has retired and uh you know is no longer involved and that gathering produced eight agreements spanning mining, healthcare, defense, water treatment, rail technology, education and these included cooperation involving Hindustan zinc and South African mining businesses, MMI holdings and Adicha Bral in health insurance, Tata Power and and SAP Grint defense and a propo and and a pharmaceutical investment involving supply at the Dubai trade report they demonstrated what becomes possible when business leaders engage directly supported by government and for focus on practical opportunities in subsequent years Mr. President, the global co pandemic disrupted international engagement. While our our governments and trade and industry ministers faced pressing national priorities against that backdrop, the forum's activities became less regular. And although our friendship and commercial ties remain strong and today, Mr. President we renewed government support and fresh business. We want to renew that forum which was a great benefit to both countries and in renewing this institution and re and renewing our responsibilities deliver. Mr. President, distinguished guests, friendship must find expression in investments, industry, skills and job. And I speak as someone who has spent a lifelong building businesses. The journey taught me that opportunity becomes valuable when someone takes responsibility for making it happen. Capital must be put to work. Obstacles must be addressed. People must be brought together around a shared objective. And that is why this business leaders forum matters. since South Africa's transition uh you know this bilateral trade is about 20 billion but I believe with the involvement forum that can readily increase and um you know there are lots of Indian companies operating in South Africa and as South African enterprise we've also helped to build businesses India there are a lot of NASPA through prosper is here and puty [snorts] is here and u there are lots of this relationship between South Africa has substance between South African Indian as sub can become much bigger and allow me to illustrate a potential and opportunity presented right here in this room. Mr. President, at the South African Investment Conference earlier this year, UPPL, a major global agriculture solutions and crop protection company announced a $1 billion pledge investment linked to a large-scale bioethanyl production facility in South Africa. UPL's chairman and group CEO Jay Swarov is here today. Jay, your commitment is a powerful vote of confidence in South Africa of farmers and industrial future. Also here is Robert Gomedi, executive chairman of GMA, a major diversified South African group and a leading figure in the consortium involved in the acquisition and revitalization of Tongatul, one of South African's most significant sugar businesses. And we also joined here with the leaders of Sassol. Why I'm mentioned as leaders because their businesses can connect three essential parts in one industrial opportunity. UPL bring the proposed investment in bioethanol project. Tonga Julen in network of sugarcane growers can contribute to agriculture and Sassol can explore purchasing the ethanol for fuel a blending subject to technical regulatory commercial and and these today your guys can get together and you can make things work and similarly a lot of Indian companies are are very very keen to get involved even your initiative with the escom the private the issue with the transmission lines theani group is involved And I believe there's major opportunities and I believe that ladies and gentlemen that when uh you know president Ramaposa at his bricks business forum address has emphasized investment trade our responsibility is to give that vision practical meaning. When companies invest, they create demand for equipment, service, skills, and suppliers. And we must ensure these doors are open to small businesses, emerging entrepreneurs, womenowned interest, and young people. Ladies and gent, the global economy is changing, supply chains are being recognized, technology is reshaping, industries, and energy and food security demand attention. South Africa and India can respond together. BRIGs provides a platform cooperation. Our bilateral relationship provides trust. Our business provides capacity. And in conclusion, let us use all three. To our original members of the SACO forum, we thank you for building the foundation. To all the business leaders presence, welcome to the responsibility and opportunity before us. To our governments, thank you for working with business to create the condition which investment can succeed. And to every business leader, let us leave with a partner to engage, a project to advance, and a next step to which we take responsibility. Let us identify projects, mobilize capital and build the partnership and let us create the jobs our people need. In 2004, the India [clears throat] SA co forum gave gave us a vision and 20 thou 2006 we demonstrate the possibility of practical cooperation. Today in 2026 let we renew that vision with experience, determination and purpose. Thank you very much. [applause] Thank you. Thank you. Thank you. I I kind of bullied uh Mr. Puri to to give us just briefly I don't know where it get the power to bully business people but Mr. Puri just even from your seat just two minutes and then we will allow the president to to ascend. >> Thank you. Uh I think uh clearly there's lot of uh opportunity between India and South Africa and the relationships are strong and most of the areas have been touched upon. Let me just briefly talk about two areas. You know this uh piece on digital has been spoken about but I just thought I'll share with you very briefly the transformation India has seen on account of the India stack. Of course it's it's laid the foundation is laid by all the very efficient and costefficient uh telecom uh operations like Airtel and others and uh then uh you know the India stack has come in on top of it a lot of services lot of enterprises developing a lot of small and medium enterprises are developing through medium it's it's really creating an inclusive society and I want to just uh you know there are many opportunities there from healthcare to education to you know agriculture and I just thought I'll mention that we do have experience in India uh especially for you know there's some some uh farms are also small in South Africa so how do you empower the small farmers they are the one that need the access to technology etc so we have lot of solutions in India my company is also owns the I would say the world's largest uh you know farmer empowerment platform called ITC Mars and it's been fairly transformative in the areas that we use it. Uh the so that's one area I thought if it's of interest we would be happy to share and exchange and you know assist in that. The second area you know globally all of us are faced with this huge issue of sustainability and climate change and uh some of my colleagues have also been talking about agriculture now that's most threatened now there have been very good interesting uh case studies in India and and at scale and now expanding on how do you build resilience in agriculture in the context of climate change >> and uh my company is involved in that but I think more importantly CI also has a center of excellence on sustainable development. We would be happy to see how you know we could uh uh be of uh you know help in that and exchange information uh both sides for uh common good. Let me stop there. Thank you. >> Thank you. Thank you very much Mr. P for indulging. Now as I had indicated ladies and gentlemen that if there's one thing I need you to to remember about president Ramaposa is that I call him the reformer president and as I had explained he's a reformer president because since coming into office his main grammar of the presidency has been about structural transformation and the the the lifeblood of that is to ramp up investment attraction into South Africa and that includes therefore a commitment to removing all the structural constraints to investment that we can identify. So part of what this conversation is about is essentially about giving him an opportunity to get the the the understandings of business themselves, the investors themselves about some of the things that affect their decision making. Of course, it's a bonus that he himself was an investor before we yanked him back into political office. So, he has quite the insight on on some of the of the constraints that business people consider. Now, ladies and gentlemen, it is my singular honor and pleasure to invite to the podium his excellency the president of the republic of South Africa, Mr. Seriel Matamea Raaposa to deliver the keynote address for today's engagement. Thank you. >> [applause] >> Thank you program director deputy minister goi and thank you all for coming uh to this round table. The idea of a round table to me conjures up just a roundt discussion rather than a keynote address as uh deputy minister was uh saying I should do. I'm here more to listen uh to all of you both South African and Indian business but I am particularly pleased to be here firstly for having spent yesterday uh for quite a while talking to individual Indian businesses or business people and uh later at the business forum bricks business forum And now this morning having spent considerable amount of time talking to some of you who are here as well uh on a bilateral and or individual basis and now this business forum I mean this business round table. It is a real pleasure to have been exposed to Indian business people and to know and to get to understand their impressive and enormous capability uh in their various businesses. I'm in awe to having listened to many of you who are uh doing business and many of you have been doing business for years having either uh followed in the toes of your founders in some cases family businesses and have grown businesses that are now global that have also developed enormous capability in a number of sectors of uh business in the global economy. Uh I found this very very impressive indeed. But let me start off by particularly thanking you as Indian business for having an interest and investment in South Africa. Uh number of you are already invested in South Africa and we want want more. uh in a way uh in our internal briefing yesterday, [clears throat] we did comment that we have in number of ways as government neglected our relationship as South Africa with India. Uh but that weakness has actually been amilarated by the relationships that businesses have had uh with South Africa from India. A number of uh businesses from India have invested in South Africa and that we are eternally grateful for much as there been a bit of a uh weakness uh in terms of uh uh our real robust relationship at sort of diplomatic level but at business level that has been really good. So, this occasion uh is going to add great momentum as Vivian Ready was saying, it's the first time I see him in a three-piece suit. Uh so, he he really got fired up and I want to thank him for the initiative uh that he has taken. He always comes to various occasions uh you know that we have in South Africa just in a two-piece suit but today he really dressed up uh and um uh so thank you very much Vivian for uh having ensured that we we have this moment but I also want to applaud my fellow South African business people who are here yesterday I did say that we've got a representation of up to 120 business people representing a variety of businesses and I'd like to think that it could be about more than 100 companies maybe less but uh we've never had in our overseas visit so many people coming along when the president travels uh and so therefore I'm grateful but I'm also particularly pleased that they participate in BRICS uh business council activities and let me immediately thank the confederation of Indian industry which I have had occasion to uh address on a number of occasions and uh and the relationship continues and uh is stronger. But I want to applaud South African black business people who are here. These are the new generation of business people from South Africa and I want to thank them for their tenacity uh and determination to run businesses and their presence here uh across the seas to come here just shows a great great determination uh to explode in the business scene. And these are business people who were prevented uh in the past from being in business. They couldn't own businesses or meaningful businesses and capital networks were completely uh removed from them and u uh they they they only operated in small little businesses in uh townships or in areas where black people lived. and black business in South Africa in democratic South Africa now has uh shown that uh it it has a presence and they are that presence. It has had to do more than competing. It has had to break into already established an economic order which is controlled and owned by those who are privileged. And up under aparate these black business people were who are here were systematically restricted where they could operate, what businesses they could own and it hamstrung them. So I applaud them today for running really meaningful businesses, for for being able to stretch their uh business prowess and to be able uh to run the businesses that they run. So my fellow South African business people, I thank you for being here. I really thank you. You are the jewel of uh economy in South Africa and we want to continue applauding you and we are meeting at a time when the global economy is undergoing a number of uh changes and transformations. Uh supply chains are being uh reconfigured and industrial policies are also being uh reshaped and uh influenced by a whole number of uh things like AI and uh climate change, energy transitions and so forth and digital technologies are reshaping industries and this is where India uh has really defined itself as an important player. So for us it's so good and important to be here because uh as we interface with you and as our business people interface with you, we are able to to learn quite a lot. Um and to thrive in this rapidly changing uh environment requires partnerships and I see our fellow business people from South Africa being here as people who require and want to have partnerships and India is powering ahead in more ways than one. But South Africa is also open for business. And the interest that Indian business people have shown in South Africa means that they can see a country that is open for business, a country that has enormous endowments in more ways than one. South Africa itself is transforming and deputy minister Gimpy has spoken to that. Uh and yes, he's right. We are leading a transformation uh and a reforming agenda to reposition our country uh in a number of ways. Uh we have emerged from more than a decade of electricity shortages into a new era of investment and competition and we are also attending to some of those areas that were holding us back. For instance, we are reviving our freight rail system. Our ports and some of the businesses that we met yesterday and today are so wellversed uh in infrastructure development in ports and in many many other areas. And it was really really a joy uh to and uplifting for us uh to be in the presence of uh such capable business uh people. uh and the reforms that we are leading now are focused on reducing the cost of doing business but also improving the environment of doing business uh in our economy and we have also embarked on the largest infrastructure investment program in our country's history. uh we've never really at government level uh taken a very clear and determined decision to invest up to 1 trillion rand and in South African terms a trillion rand is a lot of money and uh due to the measures we have taken the country's credit rating outlook has improved inflation has been on the downward trend and we are on the on the path of stabilizing our national debt Our investment drive continues to gather pace and that is why we are delighted that more than 150 uh Indian companies have collectively invested over 10 billion dollars in South Africa creating employment for up to 100 uh up to 18,000 people. UPPL came last year, no this year at our investment conference and made a really bold investment decision and we are grateful for that and at the same time a number of leading South African business companies or companies rather have uh invested in India's growth as well. So, it's been a wonderful two-way uh investment relationship with our companies investing in your market and uh and you investing in our market and these include companies such as Naspers. I see that my sister put Mahan is is here uh she leads Naspers in South Africa. The first Rand is also here. Sunlam and Momentum and a number of other companies uh have decided to invest uh in your in your market. Today we have an opportunity to build on the relationship through a focus on investment, on trade, on exports, on innovation, industrial development and sustainable growth. And uh one of the companies we met this morning uh was telling us that they they have set up a similar uh entity like we have in Sasso and uh on extracting uh fuel and gas from coal. And even as I listened to them, I said, "No, this is great. They are copycatting what we are doing in Sassil because Sassol is the largest industrial chemical company in the world." And uh we we we we are grateful that we are partners partners not only in in word or name but we are partners in what we do. This forum then presents or this round table presents an opportunity for you all with an opportunity to participate in the policy dialogue uh into commercially viable projects and long-term partnerships. Now, this is a moment when we'd like to listen to you to hear what your thoughts are, what your suggestions are. uh one of the businesses that we met just a few minutes ago came with a whole sort of uh template of what they believe uh we need to assist them in and they had a whole range about incentives and tariffs and all that but they also said no we want a vet exemption VAT exempt and I said now you're stretching it because if we give you a VAT exemption what do I say to a grandmother somewhere in the village who bows and buys something food or whatever. Though we've exempted some of those and then we give you an exemption and she pays back so it's not fair but we did say we want to address some of the many things that uh business people will raise with us. Now the first of these areas where we can work together is in energy transition and the green industrialization where we need collaboration. Uh India and South Africa are both navigating ambitious energy transitions and a number of the companies that we met here are in energy in one way or another. uh opportunities exists in renewable energy technologies and green hydrogen and uh we are pleased that we were able to exchange some views and companies like Venta have already establish a footprint in our country. We believe that other large companies can anchor their investments in South Africa and use it as a base to export into Africa and the rest of the world. And a number of your companies in talking to us said that we see South Africa as a gateway into the African continent because of the advantages that South Africa has. The second area is in mining and critical minerals and beneficiation. I will not gain say this because we we have as South Africa been leading the conversation about the beneficiation of uh what we extract from the ground in South Africa particularly critical minerals. The second area or the third area is the collaboration in in infrastructure and connectivity and we want to encourage deeper collaboration uh in this in this area as well and there are many areas where we need to collaborate and in agriculture uh India leads in empowering small-cale farmers uh when black people were removed from their land. And when they were dispossessed of land, the land was given to white people in South Africa who then went on to establish large farming operations and black people were just relegated to the much more arid areas and very small areas and that great capability of farming the land has really scaled down. We now need to revive it. need to revive it and the government is involved in in parceling out land to many of our people. Land is still a major major uh fault line in South Africa. uh something that we are addressing at the moment and therefore India offers great assistance and a few of you are saying that you're involved in agriculture and the empowerment of uh smallcale farmers. So we want to learn from you because agriculture is fundamental to economic development and social stability. There is great opportunity for collaboration in agriculture in agroprocessing and agricultural technology as well as food innovation. Now this would contribute to stronger supply chains, improved productivity and greater food security. And of course the fifth area which is also very important in which India leads is in the digital economy and innovation. Now the rapid growth of the digital economy presents exciting opportunities and another key area is uh the cooperation that we wish to highlight is a human capital and institutional re part partnerships. We would like to strengthen partnership between universities, research institutions and skill development organizations and businesses. and you have developed greatly in this area now because in our view this will support innovation and knowledge sharing. The other area where you have really really developed and you prime minister was also talking about that was in promoting startups. uh I think you are the poster country in the world for supporting startups and I heard that you know 200,000 startups have been supported and a number of them uh have become unicorns and we want to learn a lot more about how you've gone about doing so. uh one of your ministers was relating to me the various uh intricate processes that you have uh been involved in but this is where the private sector has also played a key role in uh under uh pinning and supporting the work that government has initiated. We need to see that repeated in South Africa where the private sector in large measure will also come in and support startups. Our government is doing quite a great deal but I do believe that India has done much more. So we'd like to partner with you and we glad that we've got so many South African business people who are here. We would like to strengthen partnerships uh with uh Indian businesses and various other institutions that uh we have uh come across here and this round table then gives us an opportunity uh to to deepen understanding and also to hear what some of your issues are. Yesterday when I went to the bricks business forum, I had a little bit of a of um a cold uh which I usually develop uh with too much air conditioning. So I my sense of smell was a little bit reduced. But this morning I woke up a lot better. And as I entered this room, because my sense of smell has improved greatly, I could smell money. So meeting with you here, I have a greater sense that I'm in the presence of people with money. So I I want you to come and invest in South Africa. Thank you very much. [applause] And uh Mr. President, I I I trust your sense of smell much much better than mine. So when you smell money, I always know for a fact that there must be money in the room. But but on behalf of of all the participants in here, Mr. President, I I really want to convey our collective word of thank you for for affording us your time to sit with us through this session and just also for the the the amount of time you spend um talking to Indian business people between yesterday and today. It's it's been a a great pleasure to witness and also to be a part of and in that sense it gives a very concrete uh impression that you are engineering greater economic cooperation between South Africa and India not just at a government level but by encouraging a businessto government conversation and a businessto business conversation. Now Mr. President, I'm always comfortable with you because you know that if a meeting said and there are no photos to prove that the meeting said, that meeting did not sit. So, I'm going to ask your indulgence for a family photo. Um, and I would ask that uh we individually stand up for that family photo so that there's no traffic. We don't, as I said, the president is is