Business news

MINSK, 14 August (BelTA) – India expects its trade with Belarus to grow considerably thanks to new joint ventures and expanding spheres of cooperation. Ambassador Extraordinary and Plenipotentiary of India to Belarus Pankaj Saxena made the statement during the press conference held on 14 August in dedication to India Independence Day, BelTA has learned.

The diplomat reminded that Belarus and India are intent on raising their mutual trade turnover to $1 billion. The countries are working hard on it, including by establishing joint ventures. In particular, India invites Belarusian companies to participate in the Make in India program. As part of the program the Indian government encourages the establishment of enterprises in 25 sectors of the economy.

According to Pankaj Saxena, this year is very active as far as Belarusian-Indian cooperation is concerned. Sessions of the joint commission on military and technical cooperation, the intergovernmental commission, and other agencies have been held. “India has suggested signing a bilateral investment agreement. The sides have come to terms concerning the content of the agreement. The agreement will be signed within the next two months,” specified the diplomat.

Pankaj Saxena also talked about prospects of Belarusian-Indian cooperation in the spheres of potash fertilizers, pharmaceutics, and mechanical engineering. A major Belarusian company intends to buy leather and hides in India in order to make footwear. Apart from that, Indian companies cooperate with Orsha Linen Mill.

The Indian ambassador mentioned the importance of exchanging top and high-level visits. “We look forward to a high-level visit from Belarus next month,” added the diplomat.