New Delhi: The President of Republic of Tajikistan, Mr Emomali Rahmon today urged the captains of Indian industry for enhancing the bilateral trade through mutual economic co-operation and development between the two countries in various sectors like energy, mining, pharmaceutical, light industry, eco-tourism, roadways construction, agriculture, transport, communication and others.

Addressing a high level business meeting with industry chambers The Associated Chambers of Commerce and Industry of India (ASSOCHAM), Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI), Mr Rahmon said “There is a huge scope to further intensify our economic and commercial relations and we are looking forward to close and fruitful co-operation with India.”

“We will provide complete exemption of any tax and other levies to the investors bringing in the new and modern technology to Tajikistan,” said Mr Rahmon who is on a four-day long visit to India leading a strong 30 member delegation of energy rich, strategically located central Asian country.

Talking about the renewable energy, Mr Rahmon said “There are significant opportunities for Indian investors in our hydropower sector as we have now shifted our focus on developing green and clean energy in wake of rising global warming.”

There is a huge investment opportunity for many government and private Indian companies in Tajikistan’s hydroelectricity sector.

Earlier, in his address Dr. Farooq Abdullah, union minister for new and renewable energy said “Today I’m here to talk about renewable energy and Tajikistan being rich in water resources, there is a need for both India and Tajikistan to work together to utilise these resources effectively.”

“We can help training people from your country in India and help in putting up pilot projects in your country as renewable energy is the only answer to save people from global warming,” said Dr. Abdullah.

On behalf of the Indian industry, Dr. Abdullah urged the president to enable direct air connectivity between the two countries for easy accessibility through airline services for trade and industry.

Dr. L.K. Malhotra, chairman of ASSOCHAM, India-CIS Business Promotion Council said “Indian investors can consider several investment opportunities in Tajiskistan in sectors like agriculture, mining, transport, hydropower and infrastructure apart from health and education.”

“India can offer its support in information, communication and technology sector apart from services like medical health, engineering, travel and tourism and financial services,” said Dr. Malhotra. “India can take advantage of Tajikistan’s expertise in the energy sector, food processing, organic chemicals, essential oils, cotton, aluminium and tourism industry.

Speaking on behalf of CII, Mr Ganesan Natrajan, WT Director and President, Ennore Coke Limited said “Though India-Tajikistan both are close allies, but bilateral trade between the two countries is far below potential.”

“Lack of knowledge about business potential and general lack of understanding between the private sectors of both India and Tajikistan is a significant reason for sluggish growth of trade between the two countries,” said Mr Ganesan. “Hence, in order to increase the bilateral trade, there is a need to boost the private sector participation.”

“India can tap the natural resources rich region of Tajikistan together through increased close co-operation,” said Mr V. Balasubramanian, senior vice-president of KEC International Ltd. While speaking on behalf of FICCI.

“President, your visit will inspire us to enhance our economic synergies and reach a new height of co-operation,” said Mr Balasubramanian.

Dr. Karan Singh, president of Indian Council for Cultural Relations (ICCR) also released a book titled ‘Tajiks in the Mirror of the History.’

About six memorandums of understanding (MoUs) were also signed during the business meeting:

1. Indian Central Asia Foundation (ICAF) and Academy of Science of the Republic of Tajikistan.
2. Bharat Heavy Electricals Limited (BHEL) and Ministry of Energy and Industry of the Republic of Tajikistan.
3. Khoday Group of Companies and Ministry of Energy and Industry of the Republic of Tajikistan.
4. Chadha Power Company and Ministry of Energy and Industry of the Republic of Tajikistan.
5. Gemfields Company and Ministry of Energy and Industry of the Republic of Tajikistan.
6. Khoday Group of Industries and Department of Geology of the Republic of Tajikistan.