According to a recent CII-PwC report, over 140 Indian companies have collectively invested close to $4 billion in South Africa, leading to the employment of over 18,000 people.

Companies have contributed beyond foreign direct investment (FDI) and have also taken initiatives for skill development and corporate social responsibility.

The report has predicted an increase in the Indian business footprint in South Africa.

According to the report, bilateral trade between India and South Africa had increased to $11.79 billion in 2014-15 from $2.5 billion in 2003-04.

The trade had reduced slightly in 2015-16 to $9.5 billion owing to factors like credit rating downgrade of South Africa, political, economic and policy uncertainty and fluctuations in exchange rate.