Press Release
India-Kazakhstan Business Conference on Electronics Equipment and Engineering Goods
Astana, 11 November 2024 – The India-Kazakhstan Business Conference on Electronics Equipment and Engineering Goods was successfully held at the Astana International Financial Centre (AIFC) in Astana. This event brought together prominent business leaders, government officials, and industry experts to explore opportunities for strengthening trade ties and enhancing collaboration in the electronics and engineering sectors. The event was organized in a hybrid format, with over 50 companies from both nations participating.
2. The keynote address was delivered by Ambassador Dr. T.V. Nagendra Prasad, who emphasized the immense potential for economic cooperation between India and Kazakhstan. The chief guest, Mr. Meiram Pshembayev, Chairman of the Association of Kazakhstan Machinery Industry, highlighted the strategic importance of fostering partnerships between the two countries. From the Indian side, the event also saw virtual participation from esteemed organizations, including the Electronics and Software Export Promotion Council (ESC), Engineering Export Promotion Council (EEPC), Federation of Karnataka Chamber of Commerce (FKCC), and member companies specializing in the export of electronics and engineering goods.
3. Three Key Focus Areas of the Conference
I. Increased Bilateral Trade
The conference underscored the role of Indian manufacturers, recognized for their excellence in electronics and engineering, as strategic partners for Kazakhstan’s evolving market needs. Discussions centered on leveraging mutual strengths to expand bilateral trade and drive economic growth. Ambassador remarked, “Our bilateral trade currently stands at around USD 1 billion, which is far below our potential. The time is ripe to diversify our trade into sectors like electronics and heavy engineering, which hold tremendous promise.”
II. Forging Partnerships and Joint Ventures
A central goal of the conference was to foster meaningful business relationships and open avenues for joint ventures between Indian and Kazakh firms. The discussions emphasized easing market entry for Indian companies into Kazakhstan and creating a conducive environment for long-term collaboration. Ambassador stated, “By encouraging joint ventures, we can drive innovation, create jobs, and unlock new business avenues. The complementarities between our nations are too significant to overlook, and through collaboration, we can realize shared prosperity.”
III. Knowledge Sharing and Technological Innovations
The conference featured engaging thematic sessions that showcased the latest advancements in electronics and engineering. Experts from both nations shared their expertise and discussed cutting-edge solutions to enhance Kazakhstan’s infrastructure and manufacturing sectors. The presentations were followed by a lively question-and-answer session, reflecting the high level of interest and engagement from all participants. Highlighting India’s technological leadership, Ambassador said, “India’s transformation into a global manufacturing hub, particularly in electronics, has been extraordinary. We are eager to share our expertise and collaborate with Kazakhstan to support its ambitious developmental goals, especially in digital transformation and infrastructure modernization.”
4. Key Outcomes and Next Steps
The conference marked a significant step forward in India-Kazakhstan economic relations. By focusing on increased trade, strategic partnerships, and the exchange of technological expertise, both nations are poised to deepen their collaboration and explore new opportunities for mutual growth. The discussions and insights from the event are expected to pave the way for future business missions, technological collaborations, and policy initiatives aimed at realizing the full potential of India-Kazakhstan economic cooperation.
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