FICCI in partnership with Central Asian countries launch India-Central Asia Business council

New Delhi [India], Feb 7: The Federation of Indian Chambers of Commerce and Industry (FICCI) in partnership with five of the epic industry bodies of Central Asian countries launched the India-Central Asia Business council on Thursday.

S Jaishankar, External Affairs Minister and Vikas Swarup, Secretary, Ministry of External Affairs were present to release the joint declaration post the launch of India- Central Asia Business Council.

"Today I am very happy that nominated chambers from India, Kazakhstan Gilgit Republic, Tajikistan, Turkmenistan, and Uzbekistan have come together formally to declare their association with the common aim to provide a platform for businesses of India and Central Asia. Also to collaborate and provide an industry view to the government of these countries on how to promote business development between us," said Jaishankar, while addressing the Forum.

He also stressed on the deep-rooted historical connection between India and Central Asian countries. Later the minister mentioned that India and Central Asia are a part of an extended neighborhood.

Minister said, "Despite our excellent bilateral relationship, our combined trade still stands below 2 billion dollars a year. It is our sincere hope that the India Central Asia Business council would be able to encourage an atmosphere of trade and promote Investments."

The council also hopes to explore various collaboration among each other.

The Minister especially mentioned the Chabahar port as the fulcrum of connectivity. He said, "We have made a significant allocation for Chabahar port in this union budget."

There were discussions on how to make the Chabahar port commercially attractive.

"The council will promote trade and investment between India and these countries. The areas of focus will be on renewable and non-renewable energy, oil and gas, pharmaceutical and life sciences, automotive agro-food processing, higher education, IT, tourism, urban infrastructure and transport including Railways," read

The council is an outcome between India and Central Asian dialogue held in Samarkand, January 2019. India hopes to host the second edition of India and Central Asian dialogue. (ANI)