Kazakhstan and India Enhance Partnership with North-South Transport Corridor
Kazakh and Indian Experts Discuss Trade Relations and INSTC Role in Boosting Economic Ties
Experts from Kazakhstan and India recently gathered to discuss trade relations and the significance of the International North-South Transport Corridor (INSTC) in enhancing economic ties. The event took place on March 11 at Maqsut Narikbayev University and highlighted the potential of cooperation and the role of the INSTC in driving economic growth in the region.
The discussion emphasized that the INSTC offers benefits beyond just increased cargo transportation and reduced travel time. It also enhances supply chain efficiency for assembly plants, attracts skilled professionals, and facilitates the adoption of advanced technologies in digitalization and logistics infrastructure.
Sanzhar Ualikhanov, the head of the South Asia Directorate in the Asia-Pacific department of Kazakhstan’s Foreign Ministry, underscored the strength of bilateral relations between Kazakhstan and India. He highlighted the establishment of a strategic partnership through strong economic and cultural ties, resulting in significant progress in cooperation.
Ualikhanov also pointed out the robust growth of Kazakhstan’s manufacturing sector, with 180 investment projects worth 1.3 trillion tenge (US$2.4 billion) implemented in 2024, leading to a sector growth rate of nearly 6%. The government remains committed to supporting emerging enterprises and launching large-scale industrial projects.
Furthermore, he noted the increasing Indian investment in Kazakhstan, with total Indian investments reaching $460 million since 2005. Trade between the two nations approached $1 billion in 2024, with Kazakhstan playing a crucial role in energy supply.
Ambassador of India to Kazakhstan, T.V. Nagendra Prasad, highlighted the importance of connectivity in strengthening economic ties between the two countries. He emphasized the role of Kazakhstan as a key transit hub for Indian businesses and encouraged Indian enterprises to explore investment opportunities in Kazakhstan, particularly in renewable energy, pharmaceuticals, and IT.
Prasad reiterated India’s commitment to expanding business collaborations and emphasized the positive impact of the INSTC in reducing transportation costs and creating new trade opportunities. He described Kazakhstan as a critical node in the corridor, benefiting from enhanced connectivity with India and Iran.
The discussion also addressed geopolitical considerations and challenges affecting trade routes. Ashok Sajjanhar, the president of the Institute of Global Studies in New Delhi, highlighted historical trade ties between India and Kazakhstan and discussed current geopolitical challenges such as the Russia-Ukraine conflict and the Israel-Hamas conflict.
Sajjanhar emphasized the importance of political commitment and regional cooperation to fully unlock the potential of the INSTC. He stressed the need for countries to align their strategies and strengthen collaboration to overcome challenges and enhance trade efficiency.
In conclusion, experts emphasized the vast trade potential between Kazakhstan and India, highlighting opportunities for economic growth and technological collaboration. By fostering strategic partnerships and expanding trade, both nations can secure long-term economic prosperity and geopolitical stability, shaping a prosperous future for India-Kazakhstan relations.
