Kazakhstan seeks investments from Indian entrepreneurs, offers incentives

In the previous financial year, bilateral trade between India and Kazakhstan grew 17 per cent to $2.4 billion

Kazakhstan on Thursday urged Indian entrepreneurs to invest in the central Asian country for which incentives would be given to them.

Kazakhstan's ambassador to India Zhalgasbayev Nurlan said that the country has already introduced single-window support for investors, and also providing incentives such as import duty exemption and subsidy.

Speaking at a session organised by the Merchants' Chamber of Commerce & Industry, he said that there are 36 Special Economic Zones in Kazakhstan.

In the previous financial year, bilateral trade between India and Kazakhstan grew 17 per cent to USD 2.4 billion, he said.

The priority sectors identified by the Kazakhistan government are food processing, machinery and engineering, pharmaceuticals, information and communications technology (ICT) and green and renewable energy, Nurlan said.

"There are immense prospects for cooperation in the fields of natural resources, logistics, transportation, digital economy and information technology," he added.

Engineering Exports Promotion Council (EEPC) India chairman Arun Kumar Garodia said the commercial relations between the two countries have been strengthening in recent years with merchandise exports from India rising to USD 436.5 million in 2022-23.

Honorary Consul of Kazakhstan in Kolkata Vishal Jhajharia said the West Bengal government's proactive approach in promoting investments and industrial development creates an ideal environment for mutually beneficial relationships.