Mr Roberto Paranhos Rio Branco, President of the Brazil India Chambers of Commerce also strongly supported the growing relations between India and Brazil and said that his Chambers and the CNI are growing to work closely with CII in developing further the business relations between the two countries.
Mr A P Mull, invited both CNI and the Brazil India Chambers to participate in CII's forthcoming Second India-Latin America and Caribbean Conclave, to be held in Brazil in December this year.
In the afternoon, the CII delegation to IBSA, called on Mr Navdeep Suri, Consul General of India in Johannesburg. Mr Suri briefed the delegation on the African economy and business.
He spoke to the members about the various opportunities present for the Indian industry, in investing in South Africa. Mr Suri at length explained the finer nuances of doing business with South Africa, including the policy of BEE that provides many "Credits" to the companies investing.
Following this policy that ensures participation of the local South African Community in the growth of business and hence ensures balanced development.
While Indian companies can gain by investing in South Africa, Mr Suri said that, India can gain from technology transfer from South Africa.
He further informed the gathering on the Indian industry investments in South Africa and invited the delegation to look at the enabling environment that facilitated such investments.
The same evening, CII members met with a high powered group of select South African Business leaders at a business meeting organised for them by the Edward Sonnen Nathenburg (ENS), the largest law firm in South Africa.
Mr Robert Appelbaum, partner in the firm, welcomed the CII delegation and over an informal interaction that lasted for about 2 hours, the CII members made many useful business contacts in South Africa.
ENS has helped many top Indian companies establish business in South Africa. At the meeting with ENS, the CII members also met with Minister Essop Pahad, Minister in President's office, South Africa and got an opportunity too informally discuss issues concerning them.
Confederation of Indian Industry
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