India-Kazakhstan business partnership in manufacturing sector gets a big boost

The India-Kazakhstan Business Conference on Electronics Equipment and Engineering Goods was held on November 11 in Astana, at the Astana International Financial Centre (AIFC).

The event brought together prominent business leaders, government officials, and industry experts to discuss opportunities for increased trade, joint ventures, and collaboration in the electronics and engineering sectors.

The Keynote address was delivered by Ambassador Dr.

T.

V.

Nagendra Prasad.

The chief guest was Mr.

Meiram Pshembayev, Chairman of the Association of Kazakhstan Machinery Industry.

The event was held in the hybrid format.

Around 50 companies from both sides participated in the event.

Thematic sessions on Electronics and Engineering Sectors took place in which experts from both sides gave presentations, followed by a lively question and answer session.

From the Indian side, the event was also joined virtually by the Electronics and Software Export Promotion Council (ESC), Engineering Export Promotion Council (EEPC), Federation of Karnataka Chamber of Commerce (FKCC) and their member companies dealing in exports of electronics and engineering goods.

On the occasion addressing the gathering, Indian Ambassador to Kazakhstan Dr.

T.

V.

Nagendra Prasad, said, “Kazakhstan is the largest trade partner of India in Central Asia.

In 2023, our bilateral trade is around USD 1 billion which is much below the potential.

There has been an increasing trend in engineering and electronic goods opening new avenues for bilateral trade.

We have grown swiftly in the tourism sector in the last two years, with over 100,000 Indian tourists visiting Kazakhstan.

There is huge scope for medical tourism to India.

Due to the flagship programmes like Make in India, Productivity Linked Incentive scheme etc India is becoming a favourite destination for manufacturing for several multi-national companies.

Indian companies are investing in infrastructure, logistics, power, mining, oil & natural gas, renewable energy, agriculture, medical equipment across the world and Kazakhstan must explore the opportunities as there is huge potential for India-Kazakh cooperation in these sectors.

”“Our growth trajectory in electronics complements Kazakhstan’s ambitions for digital transformation.

I congratulate Kazakhstan on its ranking, its 24th in the Global government development index of the United Nations.

The “Digital Kazakhstan” program is driving the adoption of advanced technologies, making the country an attractive partner for digital collaboration.

India has offered UPI (Unified Payment Interface) platform to Kazakhstan for making their digital payment system an interoperable platform.

By aligning our technological advancements, we can explore new avenues of cooperation, from manufacturing and software development to the implementation of smart systems and IoT solutions.

Turning to the engineering sector, we see that, it too, has emerged as a powerful driver of trade between India and Kazakhstan.

This sector encompasses a wide array of opportunities, from automotive components to industrial machinery and electrical equipment.

India has long been recognized for its engineering expertise, and our companies are well-equipped to contribute to Kazakhstan’s infrastructure projects.

The potential for collaboration is vast: Indian firms can play a critical role in building energy-efficient systems and developing infrastructure for Kazakhstan’s smart city initiatives,” the Ambassador noted.

At the conference Indian manufacturers, known for their expertise in electronics and engineering, were highlighted as ideal partners for addressing the evolving needs of the Kazakh market.

The event explored avenues for expanding trade and leveraging mutual strengths to foster economic growth in both countries.

One of the central goals of the conference was to facilitate business relationships and create opportunities for joint ventures between Indian and Kazakh companies.

By encouraging collaborations, the conference sought to ease market entry for Indian firms in Kazakhstan.

These partnerships are expected to drive innovation, create jobs, and unlock new business avenues in both nations.

The conference also featured discussions on the latest technological advancements in electronics and engineering, focusing on how these innovations can help Kazakhstan meet its developmental goals.

Indian companies shared valuable insights into cuttingedge solutions that can boost Kazakhstan's infrastructure and manufacturing sectors, enhancing productivity and sustainability.

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