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New Delhi, Nov 14 (KNN) India and Kazakhstan convened a major business conference focused on electronics equipment and engineering goods at the Astana International Financial Centre on November 11.
The hybrid-format event drew participation from approximately 50 companies from both nations, featuring thematic sessions and expert presentations on electronics and engineering sectors.
Indian Ambassador Dr. T.V. Nagendra Prasad, who delivered the keynote address, highlighted Kazakhstan’s position as India’s largest Central Asian trading partner, with bilateral trade reaching approximately USD 1 billion in 2023.
The Ambassador noted this figure remains below potential, despite recent growth in engineering and electronic goods trade. He also emphasised the flourishing tourism sector, with over 100,000 Indian tourists visiting Kazakhstan in the past two years.
During his address, Dr. Prasad spotlighted India’s emergence as a preferred manufacturing destination for multinational companies, crediting initiatives like Make in India and the Productivity Linked Incentive scheme.
He identified several sectors with significant cooperation potential, including infrastructure, logistics, power, mining, oil and natural gas, renewable energy, agriculture, and medical equipment.
The Ambassador particularly emphasised the alignment between India’s electronics capabilities and Kazakhstan’s digital transformation goals, congratulating Kazakhstan on its 24th rank in the UN’s Global government development index.
He noted India’s offer to share its Unified Payment Interface (UPI) platform with Kazakhstan to develop an interoperable digital payment system, while also highlighting potential collaborations in manufacturing, software development, and IoT solutions.
The conference served as a platform to showcase Indian manufacturers’ expertise in electronics and engineering, exploring opportunities for expanded trade relationships and joint ventures.
Discussions centred on technological innovations and their potential application in Kazakhstan’s development objectives, with Indian companies presenting cutting-edge solutions for infrastructure and manufacturing enhancement.
Meiram Pshembayev, Chairman of the Association of Kazakhstan Machinery Industry, served as the chief guest at the event.
Virtual participation included representatives from India’s Electronics and Software Export Promotion Council, Engineering Export Promotion Council, Federation of Karnataka Chamber of Commerce, and their member companies involved in electronics and engineering goods exports.
(KNN Bureau)
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