BUSINESS

Need for right balance of trade with SA

BANGALORE NOV. 10. There was both a need and a potential for correcting the imbalance in trade between India and South Africa, B. S. Arun Kumar, President, Federation of Karnataka Chambers of Commerce and Industry, said here on Monday.

At an interaction with a visiting business delegation from South Africa, Mr. Kumar said trade was heavily in favour of that country.

This was because, while India's exports tended to be agricultural commodities and garments, its imports from SA comprised precious gems and high value manufactured goods.

The business delegation, from Mpumalanga, a province of South Africa, was here seeking inward investment. The delegation led by the province's Minister for Economic Affairs and Finance, J. I. Mabena, made a presentation to members of the FKCCI, on the potential for investment in Mpumalanga.

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