Both India and Armenia are developing countries. Despite
the fact that Armenia is smaller with its population, territory, trade volume,
it is a country situated in a region bridging Europe and Asia. India is the 6th
largest economy in the world and has serious economic aspirations not only in
South Asia but in whole Asia and the world as well. In the scope of this essay the
recorded achievements in bilateral economic relations will be presented and perspectives
of future development will be mentioned.
Since the establishment of diplomatic relations in 1992
dozens of documents have been signed between the sides including agreements on
trade and economic cooperation, economic and technical cooperation,
encouragement and protection of investments, cooperation in the field of
agriculture. The establishment of Armenian-Indian Excellence Center in
Information and Communication Technologies in 2010, Armenian-Indian Business
Council in 2011 were important steps. Indo-Armenian Friendship NGO established
in 2009 announces one of its aims is to ''strengthen socio-economic ties and
trade engagement for a prosperous future with great emphasis on bilateral
engagement''.
