During the State Visit of President Khurelsukh Ukhnaa to India, leaders highlighted the Strategic Partnership between the two nations. Moreover, the India-Mongolia Business Forum in New Delhi brought together officials, investors, and representatives from over 150 enterprises. There, they discussed trade, investment, mining, renewable energy, infrastructure, IT, tourism, and manufacturing opportunities.
Lkhagvajav Baatarjav, President of the Mongolian National Chamber of Commerce and Industry, and Madhav Singhania, former Chairman of the Confederation of Indian Industry, emphasized private sector roles in advancing the Strategic Partnership. In addition, Deputy Prime Minister Amarsaikhan Sainbuyan and India’s Ambassador to Mongolia Atul Malhari Gotsurve noted that cooperation now covers trade, education, energy, and infrastructure.
The MNCCI and CII signed a Memorandum of Understanding to deepen collaboration. Furthermore, bilateral trade has grown steadily, reaching over USD 110 million in 2024. Mongolia mainly exports animal hair, wool, and non-electric motor tools to India. Meanwhile, India supplies Mongolia with food products, household goods, prosthetics, analytical instruments, loaders, ceramics, and garments.
India’s economy is valued at USD 4.3 trillion, with exports of USD 603 billion and imports of USD 682 billion. Notably, agriculture, manufacturing, finance, services, and real estate are key sectors. India also ranks fourth globally in coal reserves, fifth in mica and bauxite, sixth in lithium salt deposits, and seventh in iron and manganese ores.
Experts say strengthening the Strategic Partnership creates new investment channels, improves regional connectivity, and promotes technological cooperation. Private sector companies will accelerate economic growth and foster lasting commercial relationships.
Looking ahead, both countries plan to expand trade initiatives, improve infrastructure links, and grow joint projects in renewable energy and mining. Additionally, future dialogues and forums will help implement these plans.
The India-Mongolia Business Forum shows that dialogue and practical agreements can solidify long-term cooperation. Overall, stakeholders expect continued progress in trade, investment, and cultural exchanges as the Strategic Partnership matures.
