Mongolia’s Deputy Prime Minister S. Amarsaikhan has urged Indian companies to tap into the country’s vast potential in mineral mining and oil exploration. Speaking at the India-Mongolia Business Forum held in New Delhi, he underlined a wide spectrum of investment prospects spanning railway development, animal husbandry processing (including wool, leather, and cashew value addition), manufacturing, tourism, healthcare, transport and logistics, banking and finance, ICT, and standards and measurements.
The Confederation of Indian Industry (CII), the Mongolian National Chamber of Commerce and Industry (MNCII), and the Embassy of Mongolia in India jointly organised the forum, reflecting the growing economic engagement between the two nations.
Opportunities in Oil and Energy Infrastructure
Highlighting Mongolia’s plans to strengthen its energy infrastructure, Amarsaikhan invited Indian oil companies to participate in exploration and production activities across the country’s oil fields. He noted that essential supporting infrastructure will be completed within the next two years, creating a favourable environment for investment and collaboration.
Strategic Location and Trade Advantages
The Deputy Prime Minister emphasized Mongolia’s strategic location between major markets such as China and Russia, along with its Free Trade Agreements (FTAs) with Japan and other nations, offering India an extended trade corridor and improved market access. These advantages, he noted, could significantly enhance the competitiveness of Indian exports through Mongolia.
India-Financed Refinery to Strengthen Energy Partnership
Amarsaikhan also highlighted the landmark $1.7 billion oil refinery project, Mongolia’s first and only refinery, financed by the Government of India. Once operational, the facility is expected to meet nearly 50% of Mongolia’s domestic demand for petroleum products. This will mark a milestone in bilateral energy cooperation and self-reliance.
Expanding Cooperation in Mining and Industrial Sectors
Atul Malhari Gotsurve, Ambassador of India to Mongolia, reiterated the immense potential for cooperation in the mining sector. He cited Mongolia’s abundant reserves of coking coal, gold, copper, and other critical minerals. He also noted that Mongolia’s special treaty with Russia provides tariff rebates of 50–60% on goods transported there. This opens up new export opportunities for Indian enterprises.
New Avenues in Automobiles and Pharmaceuticals
As reported by etenergyworld.com, both leaders identified the automobile and pharmaceutical sectors as emerging areas for collaboration. As reported by assamtribune.com, the two countries aim to strengthen trade ties and promote sustainable growth. By leveraging Mongolia’s resource base and India’s industrial expertise, they plan to build a long-term strategic economic partnership.

Published Date:2025-10-16