Commercial Brief

Commercial Brief

Bilateral trade between India and Turkmenistan in the year 2022-23 was US$ 192.01 million. Major items of import from India include pharmaceutical products, machinery, organic chemicals, rubber and articles thereof, Iron & steel & articles thereof, sugar & sugar confectionary, and meat. Exports to India comprises mainly of fertilizers, 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.
  • A virtual meeting between Export Promotion Centre (EPC), Chamber of Commerce Madurai and Chamber of Commerce, Turkmenistan was held on 15 June 2022, in which businesspersons involved in food, agricultural, textile, and engineering sectors of both countries discussed ways to further trade ties.
  • A virtual B2B meeting between Indian and Turkmen businessmen in hospitality sector in association with the Ministry of Tourism, Government of India and Indian Association of Tour Operator (IATO) on September 13, 2022.
  • A virtual B2B meeting between Indian and Turkmen businessmen on Strengths & Opportunities in Indian Electronics & IT Sector in association with the Federation of Indian Chambers of Commerce (FICCI) was held on March 14, 2023, in which growing opportunities and scope for collaboration between India & Turkmenistan in the field of IT were discussed.
  • Two virtual meetings on 16.03.2023 & 05.04.2023 between NIC and 'Turkmentelekom' Telecommunication Company and STPI and Communications Agency of Turkmenistan respectively were organized by Mission. The main objectives of meeting was to help in increasing the level of skills of Turkmen specialists on creation of IT Technopark and Startup platform in order to move to digital economy.


Kindly address your queries related to trade and commerce to the email-ID: com.ashgabat[at]


(As on August 31, 2023)

Embassy of India Ashgabat, Turkmenistan