Presenting India as the one of the most open economies, Prime Minister Narendra Modi today invited South African businesses to participate in its transformation march and tap the huge opportunities by enhancing investment and diversifying the basket of trade, PTI has reported.

Modi said South African business excellence and Indian capacities must leverage each other for growth and development in our two countries.

Out to hardsell India, he described the country as "a bright star in the global economy" as he referred to its high growth rate of 7.6 per cent and spoke about efforts to improve 'ease of doing business' in an environment-friendly manner.

"Our leaders like Nelson Mandela and Mahatma Gandhi brought political freedom for us. Now, it is the time to work for economic freedom. Thus, our relations rest upon our common desire to fulfil the aspirations of our people," Modi told the business meet attended by South African President Jacob Zuma as well as about 500 top captains of business and industry.

"We have been friends in adversities. Now we should franchise in opportunities," he added.

Fakir Hassen

PTI