Understandably, much was made last month of the holding of the annual summit of the African Development Bank in Shanghai. It was a striking sign of how China is increasingly having a say in shaping the future of Africa with its cheap loans and vast infrastructure projects. But even as the delegates were being entertained, a reception was taking place in Johannesburg at the residence of India’s flamboyant consul general, Navdeep Suri that may in years to come be seen as an almost equally significant signpost for South Africa. Mr Suri was hosting a delegation of visiting Indian businessmen. To loud cheers he announced what is effectively a 30 per cent year-on-year increase in bilateral trade between India and South Africa. By the end of the current financial year the figure should be more than $5bn, up from $4bn last year. The target is $10bn by 2010.

A few years ago such a claim would have seemed absurd but as India steps up its engagement with Africa, businesspeople are increasingly confident the target will be met. Barely had Mr Suri finished speaking than the sound of an Indian dance tune echoed into the chill night air over Johannesburg’s elite Houghton district. It was a melodious reminder to the suburb’s residents, including none other than Nelson Mandela, that the days when India’s commercial links with Africa were primarily through small traders are over.