Over 100 Indian companies operate in Azerbaijan

Some 170 companies with Indian capital operate in Azerbaijan, Vugar Zeynalov, vice president of the Azerbaijani National Confederation of Entrepreneurs’ (Employers) Organizations, said.

Zeynalov made the remark in Baku at the event with participation of the business delegation of the Confederation of Indian Industry, Trend reports.

The vice-president also expressed hope that this number will increase at least by ten times in the near future.

While commenting on the prospects for development of bilateral investments, the vice president said that tourism is one of the most promising spheres in which countries can develop relations.

“For example, since early 2019, Azerbaijan has received 40,000 tourists from India,” Zeynalov said. “But this is a small figure given that the total flow of incoming tourists has exceeded two million people.”

“ICT is another sphere in which cooperation with India opens up great prospects for the development of bilateral relations,” Zeynalov said.

“As India has achieved great success in the development of IT sphere, Azerbaijan would be glad to learn from its experience and receive various assistance for the development of this sphere in the Azerbaijani market which is young but has great scientific traditions,” the vice-president said.

In conclusion, Zeynalov stressed that such meetings are important and have a deep history dating back centuries and even millennia.