New Delhi, June 17 (IANS) The India–Belarusian Business Forum at World Trade Center Mumbai brought together government officials, diplomats, industry leaders, bankers where investment opportunities in in agricultural equipment, heavy machinery and several other sectors were explored, a statement said on Wednesday.

Business representatives and industry leaders at the event explored opportunities for strengthening bilateral trade, investment, technology transfer and industrial cooperation between both countries, the statement from WTC Mumbai said.

Avinash Netaji Solwat, Under Secretary, FDI, Diaspora, International Outreach Department, Maharashtra highlighted Belarus’ strong expertise in agricultural equipment and heavy machinery, and significant scope for collaboration across these areas due to Maharashtra’s vast industrial, agricultural and manufacturing base.

“Maharashtra remains one of India’s leading investment destinations and is open to collaborations across manufacturing, technology, infrastructure, agriculture and innovation-led sectors,” he said.

“Belarus views India as an important strategic partner, and we believe this forum will create meaningful opportunities for businesses from both countries to explore partnerships, investments and long-term cooperation,” said Aliaksandr Matsukou, Consul General of the Republic of Belarus in Mumbai.

He noted that India and Belarus share a longstanding friendship, with diplomatic relations established in 1992 and cooperation has expanded beyond trade to include culture, education, healthcare, technology and people-to-people exchanges.

Dr. Vijay Kalantri, Chairman, World Trade Center Mumbai and President, All India Association of Industries, said bilateral trade stood at about $106.6 million in FY25.

He highlighted strong potential to expand trade in pharmaceuticals, engineering goods, chemicals, textiles and machinery, while leveraging Belarus’ strengths in heavy engineering, mining equipment, agricultural machinery and automobiles.

“Collaboration in manufacturing, joint ventures and technology transfer can support Maharashtra’s vision of becoming a $1 trillion economy and India’s aspiration of becoming a $5 trillion economy. Stronger industry-to-industry partnerships can unlock new avenues for bilateral trade and investment,” Kalantri added.

Atul Kumar Goel, Chief Executive, Indian Banks’ Association, said reliable banking channels, trade finance instruments and settlement mechanisms are essential to enhance business confidence between India and Belarus.

“Local currency settlement mechanisms can play an important role in facilitating international trade, reducing transaction costs and supporting smoother cross-border transactions,” Goel said.

Tatiana Alekseyeva, Deputy Director General, Mogilev Branch of the Belarusian Chamber of Commerce and Industry noted “significant opportunities for Indian companies in manufacturing, industrial technologies, agriculture, machinery and innovation-driven sectors.”

—IANS

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