Eyeing tech partnerships and new opportunities, India-Kazakhstan business ties soar at the AIFC conference. Can this be a gateway for Indian electronics firms into the Kazakh market?
India’s business relations in electronics and manufacturing with Kazakhstan are set to reach new heights. Held on Monday, the India-Kazakhstan Business Conference on Electronics Equipment and Engineering Goods at the Astana International Financial Centre (AIFC) was a pivotal platform to drive trade and cooperation between the two nations.
It brought together industry leaders, government officials, and business executives from both countries to explore opportunities for joint ventures, technological partnerships, and expanding business prospects in the electronics and engineering sectors. A primary objective of the conference was to facilitate the entry of Indian companies into the Kazakh market.
Indian Ambassador to Kazakhstan, Dr T.V. Nagendra Prasad, highlighted the growing potential for trade in these fields, noting that bilateral trade between India and Kazakhstan in 2023 reached approximately USD 1 billion, well below its full potential.
He emphasised India’s strong position in the electronics sector, driven by initiatives like ‘Make-in-India’ and the Productivity Linked Incentive (PLI) scheme, which attract multinational manufacturers.
The conference, held in a hybrid format, saw participation from around 50 companies representing both India and Kazakhstan. It featured focused sessions on the electronics and engineering sectors, with experts from both nations sharing insights on industry trends and discussing potential collaboration and new employment areas.
Significant partnership opportunities were highlighted in electronics manufacturing, industrial machinery, and electrical components, keeping Kazakhstan’s ongoing digital transformation and infrastructure development at the forefront.
Ambassador Prasad emphasised the strategic importance of Kazakhstan’s ‘Digital Kazakhstan’ initiative, which presents a strong foundation for digital collaboration, particularly in electronics and technology solutions.
He noted that India’s expertise in digital payment systems, such as the Unified Payment Interface (UPI), could be vital in enhancing Kazakhstan’s digital ecosystem.
Additionally, the Ambassador stated the contribution of Indian engineering capabilities to Kazakhstan’s ambitious infrastructure projects, including developing smart cities and implementing energy-efficient systems.
