The Deputy Minister was speaking at the 6th India Investment and Trade Initiative (ITI) seminar held in Hyderabad, India.
The seminar, which was attended by more than 200 business people from both India and South Africa, 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 source.
Deputy Minister Masina said he was pleased to see that investment between the two countries was growing, though the level was still very low given the size of the Indian market. He however said there was scope to do more to increase investment, hence South Africa is back in India for the 6th ITI.
“The emerging economies have become the new centres of economic growth. Our regions are designed to become global economic power centres. BRICS in particular is at the forefront of the leading economies of the future,” he said.