PM calls for enhanced investment from Kazakh companies in India

Source: PIB, Government of India

Exchanging of gift between the Prime Minister, Narendra Modi and the President of the Republic of Kazakhstan, Nursultan Nazarbayev, at Akorda President's Palace, in Astana, Kazakhstan on July 08, 2015. Source: PIB, Government of India.

  The Prime Minister, Narendra Modi, today called for stepping up economic engagement between India and Kazakhstan in a big way. Addressing a business roundtable attended by members of the business community from both India and Kazakhstan, the Prime Minister praised the huge strides made by Kazakhstan in economic progress over the last decade. Noting that Kazakhstan has been blessed with vast natural resources, the Prime Minister emphasized that India has huge demand for these resources, and therefore, both countries have a great potential for partnership. The Prime Minister called for enhanced investment from Kazakh companies in India, particularly in the areas of renewable energy, smart cities, housing, and railways. He said Kazakhstan could benefit from partnerships with Indian companies, which will bring in modern technology, engineering skills and cost effective mechanisms., and added that, Kazakhstan could also benefit from India’s strength in the Information Technology sector. Poor connectivity was the biggest barrier to deepening of economic engagement between the two countries, and called for enhanced connectivity between India and Kazakhstan. Narendra Modi, and the Prime Minister of Kazakhstan, Karim Massimov, also witnessed the commencement of drilling at the Satpayev Exploration Block, where ONGC Videsh Ltd has a significant stake.      

July 8, 2015 | 12:37 pm IST.