India – Kazakhstan Defence Cooperation Expo

A webinar was held on October 15, 2020 between India and Kazakhstan under the theme “Make In India For The World, India – Kazakhstan Defence Cooperation: Webinar and Expo”.  The webinar was organized by the Department of Defence Production, Ministry of Defence through FICCI.

Contents

·         Highlights

·         India-Kazakhstan Relation

·         Background

·         Significance of Kazakhstan

·         Trade

·         Export and Import

Highlights

·         The webinar is the part of the series of webinars which are being organised with friendly foreign countries to boost defence exports.

·         These webinars are being held in order to achieve defence export target of $5 billion in the next five years.

·         The webinar was attended by 350 participants and 39 virtual exhibition stalls including the 7 stalls from Kazakh companies.

·         Both side had a conversation about need to leverage opportunities for co-development, co-production and to meet their requirements.

India-Kazakhstan Relation

The Diplomatic relations between both the countries have increased significantly in the 21st century.  Both side seeks to develop an extensive commercial and strategic partnership in the region of Central Asia.

Background

India had recognised the independence of Kazakhstan from the Soviet Union in 1992, despite the fact that India was one of the closest friendly allies of Soviets during Cold war.

Significance of Kazakhstan

Kazakhstan is the second largest nation of the former Soviet republics. It  occupies a major territory in Central Asia that comprise of extensive oil, natural gas and mineral reserves. So India is exploring the relation with Kazakhstan. Further, there is a rising concern over the growth of the economic and strategic influence of the China. So, India seeks to expand the relation with the country.

Trade

Trade between India and Kazakhstan stands at $78,910,000 as of 2003.  To boost the trade and commerce,  both nations established the Indo-Kazakh Joint Business Council. India however, failed to acquire equity in the Kurmangazy oil field but the Oil and Natural Gas Corporation (ONGC) of India is set to acquire a stake in the Satpayev field. India has offered Kazakhstan $1,000,000,000 as loans while Kazakhstan granted  tax concessions to Indian companies to boost the trade further.

Export and Import

Product exported to Kazakhstan by India include pharmaceuticals, medical products, Telephone apparatus, Tea, Raw tobacco and construction machinery. While, the product imported by India include petroleum oils, oils from bituminous minerals, asbestos,  radioactive chemical elements and titanium. Kazakhstan is also the largest supplier of uranium to India that will help India to develop its civilian nuclear energy.