Madhya Pradesh and Belarus look to further economic and trade ties

Feb 05, 2021

NEW DELHI, 05 February 2021: Mr Sanjay Kumar Shukla, Principal Secretary, Department of Industrial Policy and Investment Promotion, Govt of Madhya Pradesh today said that Madhya Pradesh has recorded a 10 per cent CAGR in agro growth over the last decade and has the presence of around 2800 generic drug manufacturing companies. This, he said, is likely to interest business houses of Belarus that has a lot of commonalities with the Indian state. 

Speaking at the 'Belarus - Madhya Pradesh (India) Virtual Meeting & Discussion', facilitated by FICCI in order to develop economic ties and trade relations, Mr Shukla reiterated on the strategic location of Madhya Pradesh and also pointed out the various promotional assistance that the govt offers that will help Belarus businesses set up base in the state so that both the Mogilev Region (of Belarus) and Madhya Pradesh can grow in partnership.

"We would love to have Belarus companies set up their base here in Madhya Pradesh. The govt of Madhya Pradesh offers good promotional assistance. It is the only state in the country with tax delinked investment promotion policy. Madhya Pradesh also offers special financial assistance for large scale apparel units," he said.

Mr Shukla further added that the Govt of Madhya Pradesh targets to provide required clearances in time bound manner to industries. The Madhya Pradesh Industrial Development Corporation (MPIDC), a single window secretariat of industry department acts as the nodal agency. In order to ensure real Ease of Doing Business for industries, 40 services have been identified to be offered in a time bound manner.

Ms Sangeeta Bahadur, Ambassador Extraordinary & Plenipotentiary of the Republic of India to the Republic of Belarus said that there is a huge business opportunity between Belarus and India. India is one of the strongest countries to come out of COVID successfully and Belarus will soon come out of the pandemic.

There is a potential, both in Belarus and Madhya Pradesh that can be further explored. Madhya Pradesh has much to offer in investment opportunities and trade is concerned, especially in agricultural products and food processing is concerned, she added.

"While Indian businessmen and industry might think of Belarus as a small country (with half the population of just Delhi), its geographical position makes it a link between the East and the West. Think of it as a central point from which you can further expand your business to other lands," said Ms Bahadur.

Ms Bahadur also stressed on the need to enhance direct trade between both India and Belarus.

HE Mr Andrei I Rzheussky, Ambassador Extraordinary & Plenipotentiary of the Republic of Belarus to the Republic of India said that both the Indian and the Belarusian Embassies are greatly interested in developing business ties for both nations. The Embassy is a tool in the initial phase to bring businesses and two nations to a round table to discuss various growth opportunities.

Mr Ruslan Strahar, Deputy Chairman, Mogilev Regional Executive Committee, spoke on the need to increase regional cooperation. Elaborating on the Mogilev Region, he informed that it shares an open border with the Russian Federation and is called as the logistics hub of that region.

Mr Strahar said that Belarusian companies would be interested in setting up joint ventures. He also informed that the South-Eastern region of the nation has been set up as a special region that caters to business development.

Mr Sanjay Bhayani, Member, FICCI & Director India Operations, Avgol said that FICCI has signed MoUs with the Belarus Chamber of Commerce to further strengthen economic ties. Madhya Pradesh, he said, supports excellent infrastructure and has access to all trade corridors of the country. "Madhya Pradesh is an industry- friendly state with robust railway and road network and has a strong base of mineral resources. It is the leading producer of horticulture crop and is one of the leaders in food processing," he said.

Mr Gennady Cherny, Director General of Mogilev Branch of BelCCI also provided a brief overview of trade & economic opportunities in Mogilev.