India and SACU restart preferential trade talks after long pause
India and the Southern African Customs Union (SACU) just picked up talks on a preferential trade agreement after years of pause.
The negotiations, which first started way back in 2008 but got stuck over market access issues, were brought back to life during a meeting between India's Commerce Minister Piyush Goyal and South Africa's Parks Tau as part of India's BRICS Presidency.
India SACU target minerals pharmaceuticals manufacturing
Both sides want to lock down terms and boost cooperation, especially in critical minerals, pharmaceuticals, and manufacturing.
SACU (that is South Africa, Botswana, Eswatini, Lesotho, and Namibia) is keen to make this work now.
The renewed talks happened during the BRICS Trade Ministers's Meeting in Jaipur, so all eyes are on how this could shape future business between India and Southern Africa.