Johannesburg: On the sidelines of the G20 Leaders' Summit in Johannesburg, Prime Minister Narendra Modi engaged with Indian-origin tech entrepreneurs to encourage foreign investment in India. The Prime Minister highlighted India's strides across different fields and urged the entrepreneurs to deepen their engagement with India and strengthen the growing ties between the two nations.
During the interaction, the entrepreneurs shared insights into their work across sectors including fintech, social media, agriculture, education, healthcare, and medical devices. Modi called upon them to strengthen their engagement with India and collaborate more closely with people back home to drive innovation and growth. He appreciated their contributions to strengthening socio-economic and cultural linkages.
PM Modi also met with heads of prominent community organizations in Johannesburg. The interaction underscored India's close ties with the diaspora. Modi described South Africa's Indian diaspora as a living bridge between the two countries and appreciated their contribution towards nurturing the historical bonds of friendship between India and South Africa.
In a symbolic gesture, Modi received a Kalash from the Chinmaya Mission containing Shree Anna (millets) grown in both India and South Africa, which will be placed in the Annapoorna Devi Temple in Durban. He also met winners of the Bharat Ko Janiye (Know India) quiz, emphasizing the importance of such competitions in helping the diaspora learn more about India's history and culture.
Furthermore, PM Modi held a meeting with Naspers Chairman Koos Bekker and Group CEO Fabricio Bloisi. The discussions focused on expanding investments in India's digital ecosystem, AI, startup and space sectors and exploring new avenues in the consumer market and technology. Fabricio Bloisi stated that Naspers has invested Rs 80,000 crore in India over the last few years and intends to double these investments. He expressed excitement about the potential of growth in Indian technology. Modi praised Naspers for actively collaborating with Indian youth across multiple sectors.
India and South Africa share a historically profound and strategically significant relationship shaped by shared struggles against colonialism and apartheid. This bond is strengthened through platforms like BRICS, which facilitates political and economic collaboration.
Bilateral trade between India and South Africa has grown from US$8 billion to US$13 billion over the last five years. In FY25, bilateral trade reached US$ 18 billion. India's exports to South Africa include petroleum products, vehicles, pharmaceuticals, telecom equipment, and construction machinery. India has invested approximately US$10 billion in South Africa. There are more than 150 Indian companies operating in South Africa. Indian companies employ about 18,000 South Africans.
The G20 Summit in Johannesburg marks the first time the summit is being held on African soil. The African Union became a member of the G20 during India's presidency in 2023.
