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Economic Relations Between Armenia And India Develop

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  • Economic Relations Between Armenia And India Develop

    ECONOMIC RELATIONS BETWEEN ARMENIA AND INDIA DEVELOP

    Noyan Tapan
    Aug 31 2006

    YEREVAN, AUGUST 31, NOYAN TAPAN. 60 Armenian specialists are undergoing
    training in India with scholarships of the Indian government under
    the Technical and Economic Cooperation Program of this country. The
    Indian Ambassador to Armenia Ms Rina Pandei while presenting India's
    diamond cutting and jewelery making sector in Yerevan on August
    31. The event was organized by the delegation of India's Gem and
    Jewelery Export Promotion Council. According to the ambassador,
    in 2002, trade turnover between the two countries made 4.6 million
    USD, in 2005, it amounted to 11 million USD, while in January-June
    2006 - to 5 million USD. It was noted that the Indian capital has
    participation in the Armenian economy, particularly in such sectors as
    gold extraction and processing (Vedanta company) and diamond cutting
    (Rosy Blue company). The ambassador expressed a high opinion about
    the Armenian economy's investment opportunities, which is evident
    from the growth of foreign investments from 200 million USD in 2003
    to 500 million USD in 2005. According to her, out of 300 tractors to
    be provided to Armenia by the Indian government, 60 are already in
    Armenia, while the remaining part will be delivered in October. Rina
    Pandei called on the Indian delegation members to develop mutually
    beneficial cooperation with Armenian partners, who have considerable
    experience in diamond cutting and jewelery making.

    From: Emil Lazarian | Ararat NewsPress
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