Adani, Ramaphosa discuss deepening commercial ties at BRICS Summit

Adani Group Chairman Gautam Adani met South African President Cyril Ramaphosa in New Delhi on the sidelines of the 18th BRICS Summit. They discussed efforts to deepen commercial and investment ties between South Africa and India.

Adani and Ramaphosa Discuss Investment Ties

Chairman of the Adani Group, Gautam Adani, on Friday met South African President Cyril Ramaphosa in New Delhi on the sidelines of the 18th BRICS Summit hosted by India. Ramaphosa and Adani discussed efforts to deepen commercial and investment ties as part of business engagements during the South African President’s visit to India.

“His Excellency President @CyrilRamaphosa meets with the Chairman of the Adani Group, Mr Gautam Adani, in New Delhi, Republic of India. The meeting forms part of South Africa’s business engagements on the margins of the 18th BRICS Summit, supporting efforts to deepen commercial and investment ties between South Africa and India,” the South African Presidency said in a statement on X. He also met with Senior Vice President of Motherson Modules and Polymer Division, Tom Joseph.

BRICS at an 'Inflection Point'

Earlier on Friday, Ramaphosa addressed the Leaders' Session of the BRICS Business Forum here and said BRICS as a grouping is at an "inflection point" amid shifts in the global economy, changing trade patterns, rapid technological advances and growing climate pressures, calling the developments an opportunity to shape a more resilient, diversified and inclusive economic future for the Global South.

He said countries and companies are being compelled to reconsider where they source, produce and invest as the global economic landscape undergoes significant changes. "As BRICS, we find ourselves at an inflection point. As the global economy is reshaped, as trade patterns shift, as technological advances accelerate, and as climate pressures increase, countries and companies are compelled to reconsider where they source, produce, and invest. For us, this is an opportunity to shape a more resilient, diversified and inclusive economic future for the Global South," he said.

Highlighting the role of the private sector in advancing economic cooperation, Ramaphosa recalled the establishment of the BRICS Business Council during South Africa's first BRICS presidency in 2013. "The BRICS Business Council was established during South Africa's first BRICS presidency in 2013, in recognition that economic cooperation cannot be the responsibility of governments alone. As South Africa, we are very proud that we have 120 companies from South Africa represented at this business forum. That is a great achievement," he said.

The BRICS Business Forum is the flagship private sector platform of the grouping and brings together business leaders, Ministers and Heads of State to discuss trade, investment, finance, technology and development challenges shaping the BRICS economic agenda. (ANI)

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