The trade turnover between Kazakhstan and India by the end of 2023 amounted to 1,029.9 billion US dollars, which is 58% lower than the figures for 2022. At the same time, Kazakhstan's exports amounted to 449.2 million US dollars (-58%), while imports from India reached 580.7 million US dollars (+3.2%).
The decrease in mutual trade indicators is primarily due to a decrease in exports of Kazakh crude oil to India.
Exports from Kazakhstan: crude oil (with a share of 65.7%), hydrogen, inert gases and other non-metals (14%), asbestos (5.5%), hard coal (3.3%), etc.
Imports to Kazakhstan: telephones (9.8%), medicines packaged for retail sale (31.5%), tea (4.3%), equipment for sorting and grinding soil (5.9%) etc.
14 meetings of the Kazakh-Indian Intergovernmental Commission (IGC) were held (14th meeting of the IGC on 3 June 2022 in New Delhi). Ministry of Trade and Integration is responsible for IGC from the Kazakh part, and the Ministry of Petroleum and Natural Gas is responsible for the Indian part.
There are 7 Kazakh-Indian Joint Working Groups: on Trade and Economic cooperation, on Information technology, on Military and Military-Technical cooperation, on the development of the Textile industry, etc.