India-Central Asia Business Council launched in New Delhi

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News:The External Affairs minister has recently attended the India-Central Asia Business Council.

Facts:

About the India-Central Asia Business Council:

  • The Council was formed by the Federation of Indian Chambers of Commerce and Industry (FICCI) along with five industry bodies of Central Asian countries (Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan).
  • The council has decided to establish four working groups including on energy, agro and food processing, tourism and pharmaceuticals to present recommendations for ways to further boost trade.
  • The council also examined the viability of establishing air corridors between and Central Asia to boost trade in perishable goods, agricultural and food products.

Additional information:

About Air Corridors:

  • The proposed air corridors would include regular cargo flights with special clearing and customs facilities to expedite the movement of goods especially fresh fruit and other agricultural produce.
  • It would be similar to the one India had established in 2018 with Afghanistan.