Indian businesses all set to enter Kazakhstan market

Indian businesses all set to enter Kazakhstan market

Kazakhstan is seeking Indian tractors and agri-input mechanisation equipment to boost its agriculture and is in talks with a few tractor makers including Mahindra and Mahindra,  Iskander Baitassov said Friday.

Baitassov is the Director of the Representative Office, Kazakhstan Sovereign Wealth Fund ‘SAMRUK-KAZYNA’ JSC.

The Forum was organized by the Embassy of Kazakhstan in India jointly with the National Company ”Kazakh Invest” and Merchant’s Chamber of Commerce & Industry (MCCI).

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Representatives of the Engineering Export Promotion Council (EEPC), the Federation of Indian Export Organizations (FIEO), expert and academic circles, media as well as the leaders of more than 50 major Indian companies (India power, RUPA Company Limited, JG Chemicals, KK Group, Multiwyn Group and other) the participated the Forum.

Ambassador of Kazakhstan to India Bulat Sarsenbayev in his welcome speech thanked the MCCI management for establishing contacts between Kazakh and Indian business structures. The ambassador spoke about the main areas of cooperation between Kazakhstan and India, outlined the areas of perspective cooperation between the two countries, and also informed participants of the Forum about the growth dynamics of bilateral trade cooperation, which has a positive trend.

Deputy Chairman of JSC National Company ”Kazakh Invest” Marat Birimzhan spoke about the investment climate in Kazakhstan and the prospects for the implementation of business projects in the country. In particular, Forum participants were provided with detailed information on business opportunities in Kazakhstan, conditions, state support and competitive advantages for attracting foreign investments. M.Birimzhan highlighted a number of priority investment projects and encouraged Indian companies to take an active part in the implementation of investment projects in Kazakhstan.

Vishal Jhajhariya, President of the Merchant’s Chamber of Commerce & Industry noted the consistent development of bilateral cooperation between the countries, highly appreciated the large-scale changes carried out by Kazakhstan, which in a very short period became an open and attractive country with a favorable investment climate for doing business.

The businessmen showed their interest in the projects displayed in the presentations of JCS ”Kazakh Invest” and JCS ”Samruk-Kazyna” in the fields of mechanical engineering, telecommunications, agriculture, mining, health care, etc.

The Forum also held a series of bilateral meetingswith Indian colleagues. Agreements have been reached on the joint implementation of a number of projects. In particular, representative of Kazakh company Shimkent Temir met with Indian partners on the purchase on the purchase of equipment for the production of direct reduced iron.

Relations between India and Kazakhstan was established 27 years ago and develop in the spirit of friendship, partnership and are based on the cultural and historical affinity between the peoples of the two countries. Currently, Kazakhstan and India has a very fruitful cooperation in a wide range of areas, such as space, military-technical cooperation, IT, Fintech, oil and gas, banking etc.

Kazakhstan has become the main supplier of uranium to India. Current Kazakhstan-India trade turnover is $ 1.2 billion.

(Syndicated post)

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