India-Kazakhstan trade talks highlight INSTC’s role in regional connectivity and digitalization
India and Kazakhstan are strengthening trade ties through the International North-South Transport Corridor (INSTC), as experts at a Maqsut Narikbayev University seminar highlighted its potential to enhance regional connectivity and optimize trade logistics, Kazinform News Agency correspondent reports from the event.
The seminar began with remarks from H.E. Dr. T.V. Nagendra Prasad, Ambassador of India to Kazakhstan, Defence Attaché Col. Pankaj, and MNU Rector Sergey Pen. The INSTC's contribution to the enhancement of trade efficiency and the promotion of economic cooperation between India and Kazakhstan was emphasized by the speakers.
The initial session concentrated on investment opportunities and transaction optimization. Ambassador Ashok Sajjanhar, Dr. Zhanat Momynkulov, and Dr. Rajorshi Roy deliberated on critical logistics obstacles and strategies for decreasing transportation expenses.
Dr. Momynkulov emphasized India’s growing role as an economic partner, stating, “Kazakhstan, as India's largest trade partner through the Connect Central Asia Policy, should be one of India's closest friends. By fostering mutual trust, trade, and people-to-people connectivity, we can strengthen our relationship. The North-South Corridor facilitates the transportation of goods from Indian ports to Iranian ports, and then onwards to the Caspian Sea region and beyond.”
He outlined critical sectors for collaboration, including information technology, pharmaceuticals, energy, and agriculture.
“India has re-emerged in global geopolitics. Its foreign policy strategy in Central Asia is influenced by both regional and global changes. Kazakhstan might be a win- win,” he noted.
The subsequent session, which showcased Ambassador D. P. Srivastava, Dr. Ikboljon Qoraboyev, and Mr. Miras Zhiyenbayev, focused on the changing dynamics of India-Kazakhstan commerce and infrastructure investment. Mr. Hadi Karimi suggested that India should increase its presence in Kazakhstan's main ports and logistics hubs. He also advocated for the integration of blockchain and artificial intelligence into transit processes and the connection of Chabahar port to the railway network.
Shankar Shinde highlighted the need to streamline logistics through technology, stating, “Blockchain and this kind of tools, the young generation can use it, and the government uses one digital tool to open crossings, not double-check one document. We use this digital trade to reduce the half of the store time in the borders and create a profit or cost for the volume of sellers. This is also one of the last suggestions.”
The seminar concluded with a discussion on the significance of technological advancements and strategic infrastructure investments in strengthening India-Kazakhstan economic ties, with a focus on digitalization and efficiency in trade operations.
Earlier, it was reported that the delegation of Prasar Bharati, broadcasting corporation of India, led by CEO Gaurav Dwivedi, has visited the office of the TV and Radio Complex of the President of the Republic of Kazakhstan on March 6.
