Business Daily from THE HINDU group of publications
Saturday, Dec 16, 2006
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Business Daily from THE HINDU group of publications Saturday, Dec 16, 2006 ePaper |
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Industry & Economy
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Foreign Direct Investment Kazakhstan seeks Indian investment Our Bureau
`We have also set up centres of excellence with the help of NIIT and we hope our IT parks will attract other players in the sector'
New Delhi , Dec. 15 Kazakhstan is keen to attract more Indian investments into its priority sectors such as textiles, petrochemicals, food industry, construction, information technology and tourism. For this purpose the country is offering tax incentives, besides, hard selling its special economic zones. Kazakhstan is also hoping that India would support its membership claims at the WTO. Elaborating on the incentives, Mr Kairat Umarov, Ambassador of Republic of Kazakhstan in India, said, "We grow 3,60,000 tonnes of long staple cotton, which India imports. We have created special parks and will provide infrastructural support, with all the incentives near the cotton producing land for the prospective investors. "It will be very lucrative for Indian companies to come there since they can get everything in one place — from raw to finished goods." A Kazakh delegation had recently visited Delhi and Mumbai, and the country hopes to see Indian textile players setting up shop soon.
Dynamic ties
Celebrating its 15th year of Independence on December16, 2006, the Ambassador said, Kazakhstan has been sharing a very dynamic bilateral relations with India. "We have also set up centres of excellence with the help of NIIT and we hope our IT parks will attract other players in the sector," he added. Trade in Kazakhstan has been growing at 25 per cent in the last three years, but tourism saw a 90 per cent growth in the last year. The Ambassador also invited the Indian film industry to explore the country's scenic locales. "We have issued five times more visas this year, both for tourism and business travel, which is an indicator of the growing interest in Kazakhstan," said Mr Umarov.
Oil, gas deals
On the oil and gas front, the Ambassador said, Indian participation in the Satpayev block, depended on the commercial deals between the companies of the two countries. The commercial negotiations between KazMunaiGaz and ONGC Videsh Ltd, the overseas arm of ONGC is going on.
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