India, South Africa Work Towards Faster Trade Agreements and Stronger Critical Mineral Partnerships: Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal met South Africa’s Minister of Trade, Industry and Competition Parks Tau to discuss ways to expand economic cooperation between the two countries. The meeting, held on the sidelines of the BRICS Trade Ministers’ Meeting, focused on strengthening bilateral trade ties and exploring new opportunities in key sectors, including manufacturing, pharmaceuticals and critical minerals.

Sharing details of the discussion on social media platform X, Goyal said both sides reviewed progress on the proposed India-Southern African Customs Union (SACU) Preferential Trade Agreement (PTA). The ministers also discussed finalising the Terms of Reference (ToRs) and working towards an early conclusion of negotiations.

The talks come as India hosts the BRICS Trade Ministers’ Meeting in Jaipur under its BRICS India 2026 Presidency. The gathering brings together member countries to promote greater trade cooperation, develop stronger supply chains, encourage innovation and support sustainable industrial growth.

India and South Africa share a long-standing strategic partnership that covers areas such as trade, investment, defence, science and technology, education and cooperation in international platforms like BRICS and IBSA. The SACU Secretariat in Namibia has already shared the draft Terms of Reference for discussions with India’s Department of Commerce, marking another step in the ongoing efforts to advance the proposed trade agreement.

The latest meeting highlights both countries’ focus on expanding economic engagement beyond traditional trade areas. Cooperation in critical minerals, pharmaceuticals and manufacturing has gained importance as nations look to secure reliable supply chains and strengthen industrial capabilities. The discussions also reflect India’s broader effort to deepen economic partnerships with BRICS nations during its presidency, with trade ministers focusing on building resilient value chains, encouraging innovation and supporting sustainable economic development.