New Delhi: India and South Africa have discussed ways to expand cooperation in critical minerals, pharmaceuticals and manufacturing as the two countries seek to strengthen trade ties and build more resilient supply chains.

Commerce and Industry Minister Mr Piyush Goyal met Mr Parks Tau, Minister of Trade, Industry and Competition of South Africa, on the sidelines of the BRICS 2026 Trade Ministers’ Meeting in Jaipur. The discussions focused on advancing the India–Southern African Customs Union (SACU) Preferential Trade Agreement (PTA), alongside opportunities for deeper cooperation in strategically important sectors.

“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,” Mr Goyal said in a post on X.

India hosted the meeting in Jaipur under the BRICS India 2026 Presidency. The gathering brought together BRICS nations to strengthen trade and economic cooperation, foster innovation, build resilient value chains and promote sustainable industrial growth.

The discussions assume particular significance as India seeks resilient supplies of critical minerals required for clean-energy technologies, advanced manufacturing and strategic industries. Mr Goyal said the two countries explored ways to conclude the SACU PTA negotiations at the earliest, with the aim of strengthening India–South Africa trade engagement.

The growing commercial relationship forms part of a much broader India-Africa economic partnership. According to figures compiled by the India Africa Entrepreneurship Forum (IAEF), trade between India and Africa rose from $7 billion in 2001 to more than $98 billion in 2023, while cumulative Indian investment on the continent has exceeded $75 billion, with significant investments in telecommunications, pharmaceuticals, infrastructure and agriculture.

The IAEF estimates that India and Africa together represent an economic potential of close to $7 trillion, with growing opportunities in healthcare, Artificial Intelligence, fintech, climate technologies, manufacturing, logistics and digital infrastructure.