NEW DELHI (Commodity Online): India is likely to explore the investment opportunities in Belarus in the fields like IT, pharmaceuticals, fertilizers, power, and agriculture.
According to Jyotiraditya M.Scindia, Minister of State Commerce & Industry, trade relationship between India and Belarus was only the beginning. It should expand from trade to investment and from investment to innovation.
India to concentrate more on the following fives fields.
-Pharmaceuticals: India has world renowned capacity in producing low cost, high quality bulk and generic drugs. Supply of such drugs and investment in producing pharmaceutical products in Belarus through JV by Indian companies will provide win-win situation for both countries. Presently $700 million is the size ofpharma market in Belarus and about 70% of the total requirement of Belarus is imported, thus it will also help fulfill Belarus` target of domestic production of 50 percent of all drugs required.
-Fertilizers: It is currently the main item of export from Belarus to India. India has shown interest in a long term agreement to secure supply of potash fertilizer from Belarus. That is why his delegation includes a senior officer from the Indian Department of Fertilizer. India is interested in setting up a joint venture in Belarus for production of Potash fertilizer.
-IT Technology: India has made a lot of progress in expanding e-governance to facilitate the quality of life of common people and has gained valuable experience which could be used by the Government of Belarus onGovernment-to-Government level interaction. A Digital Learning Centre, set up with Indian assistance by the Indian company CDAC has been inaugurated just this month. They have discussed some new projects also to further cooperation in this direction.
-Power: Indian company BHEL has taken part in the Grodna power project by supplying equipments. They have also expressed interest in other similar power projects such as Belenergo power project in Belarus. India can also offer expertise in renovation of existing power plants. India has launched National Solar Mission envisaging generation of 10 GW solar power by the year 2020. Indian companies have expertise and can play substantive role in solar as well as wind power generation in Belarus.
-Agriculture: Lot of agro products are going out of Belarus to be packaged and sent back for sale at much higher price. It will be useful to set up food-processing units in Belarus and it is another area where Indian companies have expertise and capability to invest.
