India and South Africa have entered into a three-year pact to boost cooperation in areas such as agro-processed goods, defence procurement, mining equipment, and technology and financial services, including insurance.

“A comprehensive document outlining the road map for cooperation was exchanged by External Affairs Minister Sushma Swaraj and Foreign Minister (South Africa) Lindiwe Sisulu in the presence of PM Narendra Modi and South African President Cyril Ramaphosa,” MEA spokesperson Raveesh Kumar tweeted on Friday.

South African President Cyril Ramaphosa, who is visiting India with senior officials and a business delegation, will be the chief guest at the Republic Day parade in New Delhi on January 26.

“During our talks we also reviewed bilateral relations between India and South Africa as encapsulated in the strategic partnership between the two countries,” Ramaphosa said at a joint press conference with Modi.

‘Important collaboration’ 

“An important collaboration between the  two countries could be in the gems and jewellery sector. Both countries could explore avenues for direct procurement of diamond. It will ensure economies of scale, and also reduce the cost for both buyers and sellers,” Modi said at the India-South Africa Business Forum on Friday.

India could also partner with South Africa in start-ups, health care and pharma, bio-tech, IT and IT-enabled sectors, he added. Indicating that trade between India and South Africa is on the up-swing, and had crossed the $10-billion mark in 2017-18, the PM said there was great potential for further growth.

Modi also called for simplification of the existing visa regime for businessmen and tourists, and direct connectivity for further easing business and people-to-people exchanges.

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