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Investment from India is priority: Zuma

South African President Jacob Zuma said that the most important role envisaged for India in South Africa’s economic development is investment. HT reports.

business Updated: Feb 21, 2012 21:22 IST
HT Correspondent

South African President Jacob Zuma said that the most important role envisaged for India in South Africa’s economic development is investment.


Zuma, in an answer to a question emailed to him by Hindustan Times after his recent South African State of the Nation speech, said, “Investment is at the top. Please come and invest in Africa and South Africa.”

He highlighted the importance his country has attached to India’s private corporate sector.

When it came to the role of India, he said, his “second wish” was “that the private sector must have confidence in South Africa.” South African President Zuma also spoke of his desire that “ big business must invest in small businesses so that we can have economic growth and jobs created that (his country) so badly needs.”

India-South Africa bilateral trade amounted to $10.64 billion in 2010-11.