With the bilateral trade between India and Kazakhstan touching more than one billion US dollars, the two countries are keen on expanding their trade basket and are exploring markets for new products.
According to the envoy, “There was a mango festival organised by the Indian government in Astana. It was a huge success. There is big market. And talks are going on between the two sides to get the Indian mangoes in Kazakhstan.”
There is immense potential to be tapped in sectors like agricultural products, food processing, pharmaceuticals, energy and chemicals. The landlocked nation is India’s largest trade and investment partner in Central Asia and it is the third largest partner in the entire post-Soviet region.
Recently, the embassy of Kazakhstan together with Indian partners held in New Delhi two major events. The first was the round table on “The North-South Transport corridor Kazakhstan-Turkmenistan-Iran-India: the current situation and prospects.”
“The issue of the establishment of economically advantageous transport routes and wider use of the Kazakhstan-Turkmenistan-Iran and then by sea to India was discussed. And according to estimates, the use of the route will allow to increase bilateral trade by almost three times,” he added.
For India, the country is landlocked; there is a major requirement to improve connectivity with the region which would help in enhancing the trade between the two.
“We are working on a proposal for a railway network from the Chabahar Port in Iran: Iran-Turkmenistan-Kazakhstan railway network and onwards as this will help in enhancing trade in the region. The idea is to have a consortium of India-Iran-Kazakh and Russia, for laying a railway line that will carry the goods once they reach the port in Iran,” the envoy added.
Source: Financial Express