South Africa President Jacob Zuma said on Wednesday that there was a possibility of setting up a joint-venture with Maruti Suzuki to manufacture small, low-cost cars in his country.
Replying to a proposal by Maruti Suzuki chairman RC Bhargava, Zuma said, “this is important because it addresses a particular issue citizens, who are not very rich. Is it possible to form a joint venture? I think there is a possibility.”
Zuma, who was speaking at an interaction with top Indian CEOs, welcomed the investment proposals, saying that his government’s ambitious National Development Plan 2030 offers much potential for Indian businesses. “We must continue to prioritise our business and trade partnerships to address our shared challenges,” he said.
When Rajan Bharti Mittal of Bharti Airtel raised issues related to setting up telecom infrastructure in South Africa, Zuma said he would follow that up. Titagarh Wagons MD Umesh Chaudhary said the company is investing in SA for a rail coach factory.
Highlighting finance as a big issue, Zuma said BRICS bank can address it. He said he will invite Prime Minister Narendra Modi next year, and urge him to bring more businesses.