India Invites Kazakhstan to Invest in Manufacturing Sector
Published By : 08 Jul 2015 |Published By : QYRESEARCH
Resource-rich Kazakhstan has caught the attention of India. Indian Prime Minister Narendra Modi has invited Kazakhstan to invest in India’s smart city projects, renewable energy, and manufacturing sectors. He has stressed on creating a symbiotic relationship between the two nations where the businessmen from both the countries can work jointly on cyber security, space, infrastructure, and health. Modi proposed his thoughts over this partnership while addressing a round-table interaction with the business leaders of India and Kazakhstan during his recent visit to Central Asia and Russia.
He further mentioned that there is a huge opportunity for Kazakhstan to invest its sovereign wealth fund in India’s growing manufacturing sector. Modi said that India is aggressively focusing on tackling the environmental concerns with ambitious plans of generating 175 GW renewal energy –100 GW solar energy and 75 GW renewal and wind energy. The Prime Minister has also invited the Kazakh businessmen to participate in “Make in India” initiatives and invest in the manufacturing sector of the country, especially in the smart city and railway projects. He pointed out that the initiatives are perfectly in sync with Kazakhstan President N Nazarbayev’s Nurly Zhol program.
Modi said that that the business leaders can pitch in to make India realize its mission of 100 smart cities. Addressing the Kazakh businessmen, he stated that the way they have changed Astana in the last two decades, they can also help in developing India and participate in its growth story. India has opened up foreign direct investment up to 100% in railways and investors can help in modernizing the railway network which is the second largest in the world. Modi proposed that India can help Kazakhstan in the IT sector and can improve the poor connectivity among the two nations.