Azerbaijan

India and Azerbaijan's have large potential for increasing and diversifying economic ties

India-Azerbaijan Intergovernmental Commission (IGC) on trade, economic, scientific and technological cooperation

Substantial trade of Indian goods and products is carried through UAE and other third countries

US$ 229.07mn was the value of Azerbaijan's imports from India in 2020-2021

Azerbaijan’s high economic growth has been attributed to large and growing oil and gas exports

India and Azerbaijan are members of the International North- South Transport Corridor (INSTC) which has the potential to provide the shortest and the cheapest route for trade between our regions

US$ 2.91mn
FDI inflows to India from April 2000-March 2021

US$ 141.23mn

Bilateral trade value in 2021-2022

708
Overseas Indians living in Azerbaijan

Natural Resources

Azerbaijan’s proven natural gas reserves are estimated at 1.1 trillion cubic metres and proven oil reserves at 7 billion barrels

Strategic Location

Azerbaijan lies at the heart of the international transport corridor between Europe and Asia

Agriculture

The country has significant agricultural potential due to its fertile climate

Trade

The country enjoys favored trade status under an EU Partnership and Cooperation Agreement

MOU between ICAI and CAAR (2022)

The MoU shall strengthen cooperation in areas of mutual interest promoting accounting profession by way of knowledge transfer through joint programs and research initiatives.

India-Azerbaijan Bilateral Relations

India’s bilateral trade with Azerbaijan has increased substantially from around US$ 50 million in 2005 to around US$ 922 million in 2018

Bilateral Relations in Education

Ambassador Sanjay Rana, during an official visit to Nakhchivan, expressed interest in cementing bilateral ties between Indian Universities and the Universities of Nakhchivan.

India's Exports and Imports to Azerbaijan

Source: Department of Commerce

Azerbaijan Export and Investment Promotion Foundation (AZPROMO)

+994 12 5980147/48

Visit Website

Baku Business Centre Neftchilar ave.32, Baku, Azerbaijan, AZ1000

Invest India

+91-11-23048155

Visit Website

Vigyan Bhavan Annexe, Maulana Azad Road, New Delhi 110001

Embassy of India, Baku, Azerbaijan

+994-12-5646344/54

Visit Website

302 Jeyhun Hajibeyli Street
Ganjlik, Narimanov District
Baku, AZ 1069 (Azerbaijan)

Commercial Representative

+994-12-5646344, +994-50-2300422

Shri P.K. Govindan: Second Secretary & HOC

Opportunities

Agricultural exports

Waters, incl. min. waters & aerated waters, cont. added sugar/oth. sweeteni … (220210)

agriexchange.apeda.gov.in

Sugar confectionery other than chewing gum (incl. white chocolate), not con … (170490)

agriexchange.apeda.gov.in

OTHER WHEAT AND MESLIN (100199)
Semi-milled/wholly milled rice, whether or not polished/glazed (100630)

agriexchange.apeda.gov.in

Chocolate & oth. food preps. cont. cocoa (excl. of 1806.20-1806.32) (180690)

agriexchange.apeda.gov.in

Butter (040510)

agriexchange.apeda.gov.in

Food preps., n.e.s. (210690)
Othr edbl mxr/prpns of anml/vegtbl fats/ oils/of fractns of diffrnt fats/oils (151790)

agriexchange.apeda.gov.in

Food preps., n.e.s. (210690)
OTHR EDBL MXR/PRPNS OF ANML/VEGTBL FATS/ OILS/OF FRACTNS OF DIFFRNT FATS/OILS (151790)

agriexchange.apeda.gov.in

Other cane sugar: (170114)
Potatoes other than seed potatoes, fresh/chilled (070190)

agriexchange.apeda.gov.in

Minerals

Production: 28,500 tons

wmc.org.pl stat.gov.az

Production: 196,000 tons (January – October 2019)
Export: 131,000 tons (US$ 7 million)

stat.gov.az

Production: 31 million tons (2019)
Export: 26 million tons, US$ 13 billion (2019)

stat.gov.az

Production: 3,111 kgs (2019)
Export: 400 kgs (2019)

stat.gov.az

Production: 289,000 tons (2019)
Export: 98,000 tons (2019), US$ 1.9 million (2019)

stat.gov.az

Iron Ore:
Production: 10,710 tons
Export: 76,575 tons, US$ 23 million

wmc.org.pl stat.gov.az

Production: 18,186 cubic meters
Export: 9.59 million cubic meters / US$ 1.9 billion

stat.gov.az

Production: 3.8 tonnes (October 2019)

stat.gov.az

Production: 3,218 kg (2019)
Export: 2,458 kg /US$ 1.3 million (2019)

stat.gov.az

Priority Sectors

Here are the leading sectors of opportunities for foreign investors

Agriculture

Capital Goods

Chemicals

Electrical Machinery

Food Processing

Healthcare

IT and BPM

Oil and Natural Gas

Pharmaceuticals

Tourism

Top Import/ Export Items

India's top import from Azerbaijan

Crude Oil
Iodine
Oil coke
Cattle skins

India's top export to Azerbaijan

Rice
Electric heating resistors, air and gas compressors/ ventilation units
Drugs/ Human vaccine
Bromides and oxides
Black tea
Meat
Machine parts and other plant equipment

Bilateral Investors

ONGC Videsh Limited (OVL)

Gas Authority of India Limited (GAIL)

Indian Oil

Azerbaijan

MOU between ICAI and CAAR (2022)

India-Azerbaijan Bilateral Relations

Bilateral Relations in Education

Azerbaijan Export and Investment Promotion Foundation (AZPROMO)