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''.