Ulaanbaatar (Mongolia), July 29 (PTI) Satisfied with the foreign trade policy and basic infrastructure available in Mongolia, many industry giants from India plan to set up business units here.
A host of industrialists have gathered here to seek ways to tap business opportunities emerging out of this north east country.
They have been holding meetings with senior government officials of both the countries to explore a mutually- profitable partnership for them.
“We are interested in mining activities here.
Basically in exploration of base metals like copper mining and precious metals like gold and tungsten among others. We plan to invest about USD 200-300 million in coming years,” Mumbai-based Chandra Proteco President Mukul Gupta said.
Gupta said that deliberations with Mongolian authorities and their chambers of commerce are on in this regard.
“The land is full of opportunities. There is a lot of scope in business development activities especially in the field of food processing and tourism,” Camlin Limited Chairman and Managing Director Dilip Dandekar said.
A 32-member strong delegation comprising representatives of known commercial houses were taking part in ”Mongolia-India business Forum”.
The meet is being co-organised by Foreign Investment and Foreign Trade Agency of Mongolia (Fifta), CII, Ficci and Assocham to find business opportunities.
Many businessmen, politicians and associates of Fifta took part in the event, which was inaugurated by President Pratibha Patil, who is on a three-day visit here.
Patil is the first Indian President visiting Mongolia after a gap of 23 years.
Be it medical, education, information technology, dairy and mining, experts and industrialists are trying to seek business opportunities in other sectors too.
“We are looking forward to a joint venture with some university and college here for student exchange programme. The land is new and full of opportunities,” Meerut”s Shobhit University Pro Chancellor Kunwar Shekhar Vijendra said.
“We will be giving USD 10 million scholarships to people under the student exchange programme. Initially the grant will be given to research scholars,” Vijender said.
Shobhit University has about 2,000 students at its Meerut Centre.
Patil”s visit to Mongolia is aimed at finding new avenues to explore trade and cultural relationship with tie ups in Defence, Information Technology, and commerce.(MORE) PTI AKV