Kazakhstan and India to Step Up Bilateral Investment Cooperation
The 12th global Summit, "Dynamic Vibrant Gujarat," themed "Industry 4.0 – Industrial Revolution, Technology and Innovation: Stimulating inclusive Growth and Transition to Sustainable Development," was held in Gandhinagar, India. The summit framework included the "Kazakhstan – India: Emerging Ties" seminar. During the seminar, the participants heard from the speakers representing public and private sectors of Kazakhstan and India, in particular, Mulubhai Hardasbhai Bera, Minister of Tourism, Cultural Activities, Forest and Environment of India, Kairat Torebayev, Vice Minister of Trade and Integration of Kazakhstan, Azat Serikbossynuly, Deputy Ambassador - Head of Economic Sector of the Republic of Kazakhstan in the Republic of India and Diana Ablyakimova, manager for projects in India at JSC "NC "KAZAKH INVEST." In her speech, D. Ablyakimova presented investment opportunities in Kazakhstan to Indian partners.
The representative of "KAZAKH INVEST" noted the growing potential for the development of bilateral relations and the need to increase mutual investments for the implementation of joint projects. She also told the Indian partners about the favorable changes in Kazakhstan's investment field.
"Thanks to the Government's efforts to diversify the economy, wide opportunities are opening up for investments in agriculture, MMC, petrochemicals, healthcare, transport, logistics, tourism, and mechanical engineering," pointed D. Ablyakimova.
"Kazakhstan is India's main trading partner among the Central Asian countries and is ready to increase trade turnover further in the amount of $148.1 million. With significant natural resources in the energy sector, our country is a reliable partner for India in ensuring the supply of oil, gas, and other energy resources. In turn, the capacious Indian market is interesting for Kazakhstani exporters of goods and services," K. Torebayev also noted in his speech.
In turn, Mulubhai Hardasbhai Bera spoke about the high interest in developing bilateral trade, tourism, and investment cooperation.
Kazakhstan and India support cooperation within the framework of the North – South transport corridor and such major organizations as the UN, SCO, CICA, and the Central Asia–India Dialogue. In turn, Kazakhstan is India's main trading partner in Central Asia. In 2022, the mutual trade turnover between the two countries reached $ 2.5 billion. The main Indian imports are medicines, aircraft, equipment for sorting and grinding soil, telephones, and tea.
Today, about 400 legal entities are registered in Kazakhstan with the participation of Indian capital. The inflow of foreign direct investment from India to Kazakhstan over the past 25 years has amounted to more than $400 million. Since 2022, a visa-free 14-day regime has been opened for Indian citizens.