India and South Africa have long had strong historical and cultural ties, with South Africa having one of the largest and oldest Indian populations outside of India. This relationship, underpinned by the considerable political goodwill that exists between the two countries, has now extended firmly into the cross-border business environment.
The value of bilateral trade trebled from US$ 2.5 billion in 2004 to US$ 7.5 billion in 2008 and then grew to USD 10 billion in bilateral trade by 2011. It is envisaged that this trade will reach USD 15 billion by 2014.
In view of this, KPMG in South Africa has set up an India Desk to support and facilitate South Africa-India bilateral business opportunities - for Indian businesses setting up in South Africa as well as South African businesses setting up in India.