India is a key strategic partner for Kazakhstan; DPM calls for increasing Indian FDI
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
Kazakhstan's Deputy Prime Minister and Foreign Minister Murat Nurtleu affirmed India's role as a key strategic partner and outlined a vision to triple bilateral trade, expand energy and digital cooperation, and invite Indian investment in infrastructure and innovation during the Central Asia–India Business Council meeting on June 5 in New Delhi.Nurtleu pointed to the potential to increase bilateral trade from $1 billion in 2024 to $3 billion in the near future and noted a 41% rise in Indian investments in Kazakhstan, which have exceeded $525 million, reported Kazakh Foreign Ministry 's press service.'We consider this only as the beginning. Kazakhstan, as the largest economy in Central Asia and a transit hub between East and West, is ready to strengthen cooperation with India in areas such as trade, digital transformation, critical minerals, energy security, and humanitarian ties,' he said.Nurtleu identified transport and logistical connectivity as a key area for cooperation, emphasizing the importance of developing international corridors, notably the North – South route and the Trans-Caspian International Transport Route, or the Middle Corridor. He invited the Indian side to participate in joint infrastructure projects, including multimodal routes, fiber-optic lines, and regional energy grids.Kazakhstan also expressed its readiness to become a reliable supplier of strategic resources, including energy resources, rare earth metals, and agricultural products within the framework of India's Viksit Bharat (Developed India) initiative.Tourism was noted as another promising area, with 150,000 Indian tourists visiting Kazakhstan in 2024. Growth was driven by a 14-day visa-free regime and direct flights between Almaty and New Delhi. Kazakhstan also expressed readiness to support the opening of hotels and restaurants serving Indian cuisine in key cities.Nurtleu highlighted Kazakhstan's favorable investment climate, including a new 10-year 'golden visa' for investments over $300,000 and the role of the Astana International Financial Centre as a regional hub.He proposed hosting the next business council session in Kazakhstan, expressing confidence in concrete business outcomes.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
32 minutes ago
- Business Standard
Taiwanese, Vietnamese firms keen to invest in footwear sector in India: CLE
Companies from Taiwan and Vietnam are keen to invest in India's non-leather footwear sector, and the government support is crucial to facilitate these investments, Council for Leather Exports (CLE) Chairman RK Jalan said on Sunday. Jalan said these Taiwanese and Vietnamese firms import products like shoe soles, moulds, machinery, and fabrics from countries like China. "Vietnamese and Taiwanese firms are keen to invest in India. We need to support them so that they can import these goods smoothly into the country for their manufacturing facilities," he said. The country's exports are growing at a healthy rate, and the council is aiming for $7 billion worth of shipments in 2025-26, he added. The exports stood at $5.75 billion in 2024-25. The US was the top destination for Indian exporters with shipments worth $957 million (about 20 per cent share). It was followed by the UK (11 per cent) and Germany. "We are expecting about 18 per cent growth this year. Promotion of manufacturing in the country will help further boost exports and job creation," Jalan added. He said that a trade pact with the US will help increase the share in the American market. At present, this labour-intensive sector attracts 18.5 per cent duty in the US. The two countries are major players in the global footwear sector. Vietnam is a major global hub for manufacturing and exporting footwear, while Taiwan plays a key role in the design, development, and production of footwear for leading international brands. He also urged the government to roll out the focused product scheme for the footwear and leather sectors announced in the Budget to enhance productivity, competitiveness and exports. The scheme will support design capacity, component manufacturing, and machinery required for the production of non-leather quality footwear. Sharing similar views, Kanpur-based Growmore International Ltd MD Yadvendra Singh Sachan said Taiwanese companies have already invested in firms in Tamil Nadu. "They have the best technologies in the non-leather footwear sector. Their entry will help domestic firms in increasing quality production," Sachan said, adding huge opportunities are there for investments in Uttar Pradesh and Bihar because of the availability of affordable labour in these states. He said that Growmore International is also looking for collaborations with foreign firms to enhance the productivity of leather articles. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
39 minutes ago
- Time of India
IPL valuation jumps nearly 13% to $18.5 billion on strong media deals, fan growth
The Indian Premier League ( IPL ) has seen its business valuation surge to $18.5 billion (₹1.56 lakh crore), marking a 12.9% year-on-year increase, according to a new report from global investment bank Houlihan Lokey . The analysis hihglights IPL's growing dominance as one of the world's most valuable sporting properties. The league's brand value alone rose 13.8% in 2025 to $3.9 billion (₹32,721 crore), a 16.1% jump in Indian rupee terms, highlighting its increasing global pull, robust sponsorship ecosystem, and explosive digital engagement. "For institutional investors, this makes the IPL not just a sports league but a high-growth compounder in the entertainment space, catering to a fast-growing fan base with rising disposable income and a strong appetite for premium digital experiences," the study stated. Houlihan Lokey noted that brand value, distinct from total business valuation, reflects the monetary worth of intangible assets like trademarks, trade names, and goodwill. It's only one part of a broader calculation that also includes tangible assets, revenues, and operational factors. Since its launch in 2008, the IPL has evolved into a multibillion-dollar platform that not only dominates Indian sports but also shapes global standards in broadcasting, sponsorship strategy, and franchise operations. The 2025 season, despite facing a temporary pause due to geopolitical tensions in early May, bounced back swiftly with strong contingency planning and coordination among stakeholders. Live Events The report called this year's IPL a textbook example of 'resilience and operational agility.' Franchise performance remains central to the league's commercial success. Top teams reported annual revenues ranging from ₹650 crore to ₹700 crore, with as much as 80% of revenue visibility secured before the tournament even began. A league-wide salary cap of ₹120 crore per team acts as a built-in safeguard, limiting wage inflation and preserving competitive balance. IPL franchises also benefit from a capital-light model, thanks to existing BCCI-created stadium infrastructure and minimal fixed asset exposure. Compared to global peers like English Premier League or NBA teams—which face large transfer fees, variable wages, and stadium debt—IPL teams enjoy a revenue-guaranteed, asset-light structure that enhances upside and protects against risk. The valuation report also pointed to the IPL's growing global audience, noting that the 2025 final between Royal Challengers Bengaluru and Punjab Kings smashed viewership records. The title clash drew more than 600 million views on JioCinema, cementing the IPL's status as one of the most-watched sporting events worldwide. The report concluded that with a potent mix of fan loyalty, commercial scalability, and digital reach, the IPL is continuing to redefine what's possible in sports business . With inputs from ANI
India Today
39 minutes ago
- India Today
Several Bangladesh, Nepal, Myanmar nationals found in Bihar voter list: Source
Sources have revealed that a significant number of individuals from Nepal, Bangladesh, and Myanmar have been found residing in Bihar during the ongoing Special Intensive Revision (SIR) of the electoral rolls. These findings have prompted scrutiny, with officials confirming that after proper enquiry, their names will not be included in the final list to be published on 30th September Election Commission of India (ECI) launched the SIR on June 25, following its directive issued on June 24, with the aim to cleanse the electoral rolls of ineligible names and ensuring that only Indian citizens are included. The revision drive will continue until July part of this process, the ECI initially mandated all voters to submit identity documents, including proof of over 77,000 Booth Level Officers (BLOs), along with government staff and political party workers, are involved in verifying the credentials of more than 7.8 crore registered voters across Bihar. Both existing and prospective voters have been asked to provide documents that establish their Indian the Supreme Court heard a batch of petitions challenging the Election Commission's Special Intensive Revision (SIR) of electoral rolls in Bihar ahead of the assembly elections this year. The petitioners include several opposition leaders, including Trinamool Congress's Mahua Moitra, RJD's Manoj Kumar Jha, KC Venugopal from the Congress and Supriya Sule from the Nationalist Congress Party - SP, among others. While the top court allowed the poll body to go ahead with the SIR, it asked the poll body to consider Aadhaar, voter ID and ration cards - widely held documents - during the verification process, along with the 11 documents listed by the central poll the Election Commission said that the documents are already part of the documentation process under the ongoing Special Intensive Revision (SIR) of voter rolls, but do not prove their eligibility to Election Commission has said that after Bihar, soon the same process will be initiated in West Bengal, Assam, Kerala, Tamil Nadu and Puducherry, as elections are likely to be announced in these states by March or April. The term of the Legislative Assembly in these five states will come to an end in May next year.- EndsMust Watch
