Welcome Address by Mr. R.K. Bhatia, High Commissioner of India to South Africa at the First Conclave on India-South Africa Project Partnership (Johannesburg; May 21, Cape Town: May 24, 2007) [H.E. Ms. Phumzile Mlambo-Ngcuka, Deputy President of the Republic of South Africa,] H.E. Mr. Alexander Erwin, Minister of Public Enterprises, H.E. Mr. Anand Sharma, Minister of State for External Affairs of India, His Excellency Mr. Radhakrishna Padayachie, Deputy Minister of Communications, Mr. Sanjay Kirloskar, Chairman & Managing Director, Kirloskar Brothers Ltd. It is a matter of immense happiness to us to participate in this important event. As we see it, the aim of the Conclave is to secure the consolidation, diversification and development of economic relations between India and South Africa in the long term, a cause to which we all are fully devoted. 2.The high-powered presence from the Government of South Africa gives suitable profile to this event. A very welcome presence of our Minister of State for External Affairs underlines the high importance attached to the event and its potential impact by my Government. 3. May I take this opportunity to welcome the members of the Indian business delegation led by a distinguished captain of industry, Mr. Sanjay C. Kirloskar as well as all other participants. The presence from the South African side is impressive indeed. . I should also express appreciation to CII for this exceptionally important initiative in particular and for the unique blend of imagination, vigour and professionalism which they have displayed consistently in deepening business linkages with South Africa Inc. 4. When I presented my credentials to President Thabo Mbeki on March 8 this year, he spoke eloquently of close and strong political relations between India and South Africa. He gave us encouragement for strengthening the economic dimension of this relationship. In particular, he pointed in the direction of augmenting linkages between IT companies of India and South Africa. India’s large-scale participation as ‘the partner country’ in Futurex in Johannesburg last week was in fulfillment of our assurance to the President. 5. When one takes a macro view, it is evident that India-South Africa economic relationship revolves around two latest key figures i.e. bilateral trade valued at about $ 4 billion, and the two-way flow of investment valued at approximately $ 2 billion. The basic objective of all of us should be to secure a three-fold increase in these figures in then next 3-4 years. This was largely the target our top leaders gave to us when they met last in South Africa just a few months back. 6.This Conclave is a celebration and a challenge. It is a celebration of the many bonds which link India and South Africa, the two nations with a shared history, shared ideals and shared icons. It is also a challenge – how do we transform our excellent political relationship, the many bonds between our peoples, into a mutually rewarding economic partnership? 7. Clearly, both Governments have an important role to play in this process. There is no doubt that they will continue to be as helpful, pro-active and constructive as possible in this regard. The principal responsibility for progress in the desired direction rests on the shoulders of India Inc, and South Africa Inc. We believe that a closer dialogue and interaction, greater synergy and an increased determination will be the essential ingredients of a successful strategy. 8. We are very happy that, with the enthusiastic support of India Inc., the High Commission of India has been involved in organizing a package of six major promotional events between April and October 2007. These relate to Textiles, IT, Engineering, Infrastructure, SMEs and other business sectors. This Conclave figures prominently in our business promotion package for 2007. 9. The pilot of this event, Confederation of Indian industry (CII), has chosen very carefully two specific sectors, namely ICT and Infrastructure in all its dimensions as the main subject of dialogue today. In both these fields, a great deal of give-and-take is feasible, given the capabilities, experiences and needs of our two countries. We are convinced that these two sectors have immense potential for cooperation. This needs to be explored purposefully and developed systematically for mutual benefit. 10. Without delving into details, may I once again express our satisfaction at the holding of this important event. We are confident that its outcome will be substantial for strengthening India-South Africa relations. For a positive outcome, collaboration of all concerned in the follow-up phase will also be essential. 11. I thank you very much for your attention.