Union Commerce and Industry Minister Piyush Goyal on Thursday said India and South Africa have discussed about growing bilateral collaboration in vital minerals, pharmaceuticals, and manufacturing following a meeting with Parks Tau, South Africa’s Minister of Trade, Industry, and Competition, on the sidelines of the BRICS 2026 Trade Ministers’ Meeting in Jaipur.
In his official X handle, Goyal wrote, “We discussed the signing of Terms of Reference (ToRs) for India-SACU PTA and early conclusion of negotiations, strengthening the India-South Africa trade engagement and explored opportunities for cooperation in the critical minerals, pharmaceuticals and manufacturing sectors.”
Met with Mr. Parks Tau, Minister of Trade, Industry and Competition of South Africa, on the sidelines of the #BRICS2026 Trade Ministers’ Meeting.
We discussed the signing of ToRs for India-SACU PTA and early conclusion of negotiations, strengthening the India-South Africa trade… pic.twitter.com/7EyBHjsn80
— Piyush Goyal (@PiyushGoyal) August 6, 2026
The ministers also talked about advancing negotiations and evaluated the status of the proposed Preferential Trade Agreement (PTA) between India and the Southern African Customs Union (SACU).
As part of its BRICS Presidency, India is hosting the BRICS 2026 Trade Ministers’ Meeting in Jaipur. The purpose of the meeting to boost trade and economic cooperation, encourage innovation, create robust value chains, and advance sustainable industrial growth.
The talk on critical minerals comes as India looks to establish reliable supply chains for resources needed for advanced manufacturing, sustainable energy technology, and other key industries.
According to data compiled by the India Africa Entrepreneurship Forum (IAEF), trade between India and Africa has increased from USD 7 billion in 2001 to more than USD 98 billion in 2023, while cumulative Indian investment in Africa has surpassed USD 75 billion, largely in telecommunications, pharmaceuticals, infrastructure, and agriculture.
The combined economic potential of Africa and India is estimated to be close to USD 7 trillion, with growing prospects in manufacturing, digital infrastructure, healthcare, artificial intelligence, fintech, and climate technologies, added IAEF.
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