Mongolia’s Deputy Prime Minister S. Amarsaikhan on Wednesday highlighted strong opportunities for Indian companies in mining, oil exploration, and other sectors. Speaking at the ‘India-Mongolia Business Forum’, he also cited potential in railroads, animal husbandry, manufacturing, tourism, healthcare, logistics, banking, ICT, and disaster risk reduction.
Amarsaikhan invited Indian oil firms to collaborate on Mongolia’s oil fields, noting infrastructure will be ready within two years. He emphasized Mongolia’s strategic location near China and Russia, along with Free Trade Agreements with Japan and other countries, enhancing market access for Indian businesses. The Deputy PM also mentioned Mongolia’s first oil refinery, funded by India with $1.7 billion investment, expected to meet 50 per cent of domestic demand.
Indian Ambassador Atul Malhari Gotsurve highlighted mining opportunities in coking coal, gold, copper, and critical minerals. He noted Mongolia’s treaty with Russia provides tariff rebates of 50–60% on exports, creating further potential for Indian firms. Sectors such as automobiles and pharmaceuticals were also identified for collaboration.
Madhav Singhania and MNCII President Lkhagvajav Baatarjav outlined a six-point agenda to strengthen ties, focusing on mining, energy, e-mobility, pharmaceuticals, startups, and education. The forum saw participation from industry leaders discussing agribusiness, infrastructure, renewable energy, transport corridors, and critical minerals.
