India-South Africa trade set to reach $15 billion by 2014: Anand Sharma

Bilateral trade between India and South Africa is expected to reach the targeted $15 billion by 2014, before the deadline, union minister of commerce, industry and textiles Anand Sharma said today.

"We are satisfied on the growth of trade and investment relations between the two countries. We are hopeful to achieve the target of $15 billion in the year 2014," Sharma said while interacting with the India South Africa CEO Forum along with his South African counterpart Dr Rob Davies.

The India-South Africa CEO Forum is jointly led by Tata Sons chairman Ratan Tata and Patrice Motsepe, executive chairman of African Rainbow Minerals.

The second meeting of the India-South Africa CEOs Forum held in New Delhi today, aimed at giving a further impetus to the growing bilateral economic relations. The meeting addressed the challenges and constraints hampering the growing economic partnership.

The meeting came out with a set of comprehensive recommendations focusing on constraints and issues that confronted businesses on both sides in the sectors like financial services, pharmaceuticals and healthcare, infrastructure and energy, manufacturing and mining.

The recommendations were presented to Anand Sharma, and Rob Davies, minister for trade and industry, South Africa who joined the CEOs for an interaction.