Mumbai hosted the India–Belarusian Business Forum on June 17, bringing together senior government officials, diplomats, industry leaders, bankers and business representatives to explore opportunities for expanding bilateral trade, investment, technology transfer and industrial cooperation between India and Belarus.
Held at the World Trade Center Mumbai, the forum served as a platform to strengthen economic engagement and identify new areas of collaboration across manufacturing, infrastructure, agriculture, technology, finance and innovation-driven industries.Addressing the gathering, Aliaksandr Matsukou, Consul General of the Republic of Belarus in Mumbai, highlighted the longstanding friendship between the two countries, noting that diplomatic relations were established in 1992. He emphasized that cooperation has steadily evolved beyond trade to include education, healthcare, technology, culture and people-to-people exchanges.
“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,” Matsukou said.Highlighting Maharashtra’s attractiveness as an investment destination, Avinash Netaji Solwat, Under Secretary, FDI, Diaspora and International Outreach Department, Government of Maharashtra, said the state remains open to international collaborations across manufacturing, technology, infrastructure, agriculture and innovation-led sectors.
He noted that Belarus possesses significant expertise in agricultural equipment and heavy machinery, creating substantial opportunities for partnerships with Maharashtra’s diverse industrial and manufacturing ecosystem.“Maharashtra remains one of India’s leading investment destinations and is committed to attracting foreign investment under the leadership and vision of Chief Minister Devendra Fadnavis,” Solwat stated.
Dr. Vijay Kalantri, Chairman of World Trade Center Mumbai and President of the All India Association of Industries, highlighted the strong foundation of India–Belarus relations across trade, investment, pharmaceuticals, science and technology, education and cultural exchanges.According to Dr. Kalantri, bilateral trade between the two countries reached approximately USD 106.6 million during FY 2024–25. He identified pharmaceuticals, engineering goods, chemicals, textiles and machinery as sectors with considerable growth potential.
“There is strong potential to expand trade while leveraging Belarus’ strengths in heavy engineering, mining equipment, agricultural machinery and automobiles,” Dr. Kalantri said.He further emphasized that greater collaboration in manufacturing, technology transfer and joint ventures could support Maharashtra’s ambition of becoming a USD 1 trillion economy while contributing to India’s broader goal of achieving a USD 5 trillion economy.
Financial cooperation also emerged as a key focus area during the forum. Atul Kumar Goel, Chief Executive of the Indian Banks’ Association, stressed the importance of robust banking infrastructure and efficient settlement systems in facilitating international trade.Goel highlighted India’s rapidly advancing digital payment ecosystem, including the Unified Payments Interface (UPI), and noted that local currency settlement mechanisms could significantly reduce transaction costs while improving trade efficiency between India and Belarus.
“Reliable banking channels, trade finance instruments and settlement mechanisms are essential to enhance business confidence between India and Belarus,” he said.He also pointed to the growing attractiveness of FCNR(B) deposits following recent Reserve Bank of India measures aimed at encouraging foreign currency inflows and strengthening India’s external sector.Representing the Belarusian Chamber of Commerce and Industry, Tatiana Alekseyeva, Deputy Director General of its Mogilev Branch, described Belarus as a strategic gateway to the Eurasian Economic Union (EAEU) market.
She encouraged Indian businesses to explore opportunities in manufacturing, industrial technologies, agriculture, machinery and innovation-driven sectors, emphasizing Belarus’ strong industrial base and favorable geographic position.“Enhanced business engagement, trade partnerships and joint initiatives will contribute to greater trade and investment flows between India and Belarus,” Alekseyeva said.The forum also featured focused panel discussions on business opportunities for Indian companies in Belarus, banking and settlement mechanisms, logistics solutions, partner verification processes and the role of India as a trade, technology and investment partner for Belarusian enterprises.
A major highlight of the event was the launch of the Representative Office of Belarusbank in India, a development expected to strengthen financial connectivity and facilitate smoother business transactions between companies in both countries.The event concluded with a shared commitment from stakeholders to deepen bilateral economic engagement, encourage industry partnerships and create new avenues for trade and investment. Participants expressed confidence that stronger cooperation in business, finance and technology would contribute to sustainable growth and further strengthen India–Belarus relations in the years ahead.
