South Africa—Indian firms create 18,000 jobs
Indian companies have invested over USD 4 billion in South Africa and created 18,000 direct jobs in the continent's biggest economy, the Confederation of Indian Industry (CII) has said.
According to a new CII report “Indian Industry’s Inclusive Footprint in South Africa--Doing business, doing good”, prepared jointly with British advisory multinational Pricewaterhouse Coopers (PwC), there are 140 Indian companies operating in South Africa whose contributions go beyond foreign direct investment (FDI) in the country, and include key CSR and skill development initiatives. “Indian companies operating in South Africa are not just investing funds and creating jobs, but are actively contributing to the upliftment of the communities in which they operate,” a CII release said here.
In a statement, CII Director General Chandrajit Banerjee said: “The report highlights the journey of the historic and economic relationship between India and South Africa, looking at the key sectors where Indian companies are thriving.” it said.