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Kazakhstan steps up exports to India by 30%

Business Materials 22 February 2019 14:12 (UTC +04:00)

Baku, Azerbaijan, Feb. 22

By Rashid Shirinov – Trend:

Trade turnover between Kazakhstan and India amounted to $1.2 billion in 2018, which is 26.5 percent more than in 2017, Trend reports via EnergyProm.kz.

In particular, exports from Kazakhstan to India increased by 30.1 percent to $954.1 million.

The main exported goods were oil ($741.6 million, 19.8 percent up year-on-year), chemical radioactive elements and their compounds ($90.3 million, 15.3 percent up) and silver powder ($67.6 million).

Imports from India, in turn, increased by 14.2 percent to $242.8 million.

The main imported goods were medicines ($66.6 million, 13 percent up), flavored tea ($32.6 million, 21.2 percent down) and phones ($11.1 million, a 63.4-time growth).

In the last 5 years, the direct Indian investments in the economy of Kazakhstan amounted to almost $100 million. The main areas of Indian investment are energy, finance and pharmaceuticals.

Currently, there are about 560 legal entities and branches with Indian capital in Kazakhstan, including such companies as SB PNB, Siva Swathi Textiles, Sava Health Care, etc.

(375.95 KZT = 1 USD on Feb. 22)

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Follow the author on Twitter: @ShirinovRashid

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