Business conference on engineering sector held by the Embassy of India in Astana
29 March 2023
On March 29, 2023, the Embassy of India in Astana, jointly with the Astana International Financial Center, organised a Business Conference on the Development of Engineering Goods and Services Market between India and Kazakhstan.
The event aimed to give impetus to cooperation in engineering goods and services sectors between India and Kazakhstan. The event was held in a hybrid format. The discussion focused on the future of India-Kazakhstan engineering cooperation and the best modern solutions available, building on the two countries' current cooperation.
In her welcome remarks, the Ambassador of India to Kazakhstan, Ms. Shubhdarshini Tripathi noted that India's engineering sector has witnessed remarkable growth over the last few years, driven by increased investment in infrastructure and industrial production. The engineering sector, being closely associated with the manufacturing and infrastructure sectors, is of strategic importance to India’s economy, - highlighted Ms. Shubhdarshini Tripathi.
From the Kazakh side, the Vice-Minister of Industry and Infrastructural Development of Kazakhstan, Ms. Dinara Sheglova delivered a welcome remark. During her remarks, she mentioned that in Kazakhstan, the growth rates of mechanical engineering show stability and efficiency. The volume of industry production in 2022 amounted to 3.1 trillion tenge and increased by 30% compared to 2021 (2.4 trillion tenge). Concluding the speech, she invited Indian partners to take part in the industrialization of the Republic of Kazakhstan due to the larger domestic market and promising markets in the EAEU.
Representatives of the premier industry bodies, namely, the Services Export Promotion Council (SEPC) of India, the Engineering Export Promotion Council (EEPC) of India, and Invest India- the premier investment promotion and facilitation agency, gave presentations to showcase the potential of Indian companies and ways to increase cooperation.
Mr. Kuanysh Taishibekov, Deputy Director of the Association of Kazakhstan Machinery Industry, gave an in-depth analysis of the Kazakh Engineering Industry market. He noted that the Association is ready to assist foreign enterprises in understanding the favorable economic, financial, and legal conditions for doing business in Kazakhstan. Concluding his presentation, he invited the Indian industry representatives to join the Kazakhstan Machinery Forum in 2023. Mr. Timur Sembinov, the advisor of the AIFC, made a presentation for the Indian delegation to acquaint them with the activities of the AIFC.
Leading Indian Engineering companies, such as BMI Bearings India, Van-Bent Minerals PVT, Distinct Techno Concept Pvt, Polymechplast Machines, Hilek Auto Industries, Rajendra Special Metals and Alloys, Nexus Alloys and Steels etc., as well as Kazakh Engineering companies as Tengis Plus, Amkador Astana, Kazcompressor, Elpa, UK-Engineering, Azam-KC took part in the event.
