The Embassy of India in Baku has organized a B2B meeting on India-Azerbaijan Cooperation in tiles sector with the participation of an Indian delegation comprising four companies and about 15 representatives of major Azerbaijani companies and business support organizations including AZPROMO. Companies from both countries gathered in JW Marriott Absheron Baku in order to explore the potential for business cooperation in tiles sector.
In his opening address, Chargé d’Affaires of India in Baku Vinay Kumar highlighted that India is world’s second largest manufacturer of tiles. Over the years, Indian tiles industry has been modernising through new innovations and product profile, quality and design to emerge as a modern world class industry ready to take on global competition. He mentioned that India exports tiles to more than 125 countries. He also informed the participants that more details about Indian companies in various sectors may be seen at the portal www.indianbusinessportal.in .
Kumar underlined that the Indian Ceramic & porcelain tiles products are already known in Azerbaijani market. He noted that according to the January-July 2022 statistics, India was the third major exporter of tiles to Azerbaijan accounting for 13.4% of total tiles import of Azerbaijan. “However, there is still an enormous potential to increase the market share of Indian tiles products in Azerbaijan,” he added.
Representatives of the Indian companies Lavit Tile LLP, Kivos Ceramic, Metro Ceramics and Mozart Vitrified made presentation about their companies. The presentations followed by B2B meetings and fruitful business discussions between Indian and Azerbaijan companies. All four Indian companies are also participating as Exhibitors at Baku Build Exhibition – 27th Azerbaijan International Construction Exhibition on 19-21 October 2022.
According to the Azerbaijani statistics, bilateral trade between India and Azerbaijan was US$ 1.528 billion during the period from January – August 2022, with an increase of 159.5%. During this period, India was Azerbaijan’s fourth largest trade partner. Azerbaijan’s export to India was US$ 1.378 billion increased by 181.6%. India was the third largest export destination for Azerbaijan. Azerbaijan’s import from India was US$ 149.89 million during the same period, with an increase of 50.8% as compared to the similar period of last year.