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Commercial Brief

Commercial Brief

Bilateral trade between India and Turkmenistan in the year 2020-21 was US$ 60.64 million. Major items of import from India include pharmaceutical products, electronic and electrical items, machinery, woven apparel, meat and tyres. Exports to India comprises of fertilizers, cotton and inorganic chemicals (e.g., Sulphur, Iodine).

Joint Ventures

With Indian Government’s assistance, a pharmaceutical joint venture ‘Turkmen Derman Ajanta Pharma Ltd’ was set up in Ashgabat in 1998. Indian pharma company Ajanta Pharma Ltd. was the technical partner from Indian side. The JV was later handed over to Turkmen side and is functioning successfully, providing Turkmen market with affordable medical products.         

India – Central Asia Business Council (ICABC)

India – Central Asia Business Council was established in February 2020 under the India – Central Asia Dialogue, wherein Turkmenistan is represented by Chamber of Commerce and Industry of Turkmenistan. The 2nd meeting of ICABC was held in October 2020, wherein it was decided to establish Joint Working Groups in key sectors like health/pharmaceuticals, energy, agriculture and tourism.

Trade Promotion

 The Embassy is actively involved in promoting bilateral trade by organizing a number of activities including Webinars, Buyer-Seller meetings, facilitating contacts between businesspersons of both countries, replying to trade enquiries etc. Some recent events organized by the Embassy are:

  • Online business interaction between Indian and Turkmen business persons engaged in agriculture and food processing sectors in collaboration with Forum for Integrated Agricultural Development and Chamber of Commerce and Industry of Turkmenistan in October 2020.
  • Webinar on textile and leather sectors with participation of business persons from both countries in collaboration with IMC Chamber of Commerce and Industry of India and Chamber of Commerce and Industry of Turkmenistan in November 2020.
  • Webinar on “India Turkmenistan Pharmaceutical Sector Cooperation” in collaboration with PHARMEXCIL and Ministry of Health of Turkmenistan in March 2021.


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