New Delhi, August 14, 2026: A delegation from the PHD Chamber of Commerce and Industry (PHDCCI) met Union Commerce and Industry Minister Piyush Goyal at Vanijya Bhawan, New Delhi, on August 12 during the signing of the Terms of Reference (ToR) for the proposed India–Southern African Customs Union (SACU) Preferential Trade Agreement (PTA).
The delegation included Dr. Ranjeet Mehta, CEO and Secretary General, PHDCCI; Sandeep Aggarwal, Senior Managing Committee Member; Sunil Mangla, Chair, Manufacturing Committee; Sanat Kumar, Chief Economist; and Rakesh Shukla, Secretary, PHDCCI.
The signing of the ToR marks an important step towards restarting formal trade negotiations between India and the five-member SACU bloc comprising South Africa, Botswana, Namibia, Lesotho and Eswatini. The framework is expected to guide discussions aimed at improving trade relations and expanding economic cooperation between the two sides.
During the meeting, the PHDCCI delegation congratulated Goyal on the development and appreciated the government’s efforts to widen India’s international trade partnerships and create greater market access for domestic businesses.
The proposed India–SACU trade arrangement could open new avenues for Indian exporters in sectors including automobiles and auto components, pharmaceuticals, engineering products, machinery, electrical equipment, chemicals and textiles.
PHDCCI reiterated its commitment to working with the government and industry stakeholders to strengthen India’s export ecosystem and help businesses identify and capitalise on emerging opportunities in Southern African markets.