Trade between India and Kazakhstan has the potential to double with the central Asian country looking to develop its connectivity and infrastructure.

According to Yerlan Alimbayev, ambassador of Kazakhstan to India, the two countries already enjoy a strategic partnership with uranium being a key traded good.

“For the eight months of this year, we have already reached a $1-billion trade turnover. By the end of the year, we are expecting it to reach $1.5 billion,” he said at a session organised by the Merchants’ Chamber of Commerce and Industry on Monday.

He added that high-level meetings between the two countries are scheduled in the coming months which would push the two-way trade along with developing connectivity,

According to Alimbayev, Kazakhstan is developing several mining and infrastructure projects that could draw the interest of Indian investors.

Kazakstan being a landlocked state is developing its road infrastructure while looking to increase air connectivity. A proposed railway line connecting Chabahar port in Iran will significantly cut down the travel time between the central Asian countries in the region.

The country is developing several mining and infrastructure projects that could draw interest of Indian investors. He added that the country has attracted USD 24 billion foreign direct investment in 2018 out of the USD 27 billion that has gone in the central Asian region. Tax incentives and specialized industrial zones are among the key strategies to attract investment.

Alimbayev said that efforts are ongoing to improve air connectivity with India to boost both business and tourism.