India Hosts SCO Business Council Meet To Boost Economic Cooperation Among Member Nations

The SCO Business Council Secretariat, Republic of India, hosted an exclusive Industry Interaction on Enhancing Economic Cooperation Among SCO Member States in New Delhi on February 6, 2025, during the first official visit of H.E. Nurlan Yermekbayev, Secretary-General SCO Secretariat Beijing, China. The event was chaired by Tribhuvan Darbari, Chairman of the National Part of the SCO Business Council Secretariat, Republic of India, and Chairman of the India-Russia Business Council, FICCI with the presence of the Chief Guest H.E. Nurlan Yermekbayev, Secretary-General SCO; Guest of Honour- Tarun Kapoor advisor to the Hon’ble Prime Minister of India; Anand Prakash Joint Secretary, Ministry of External Affairs, Govt. of India & also the National Coordinator of India to SCO and captains of the industry & banks from India and other SCO Member States.

The event underscored the increasing economic significance of the SCO region and the critical role of business collaborations in strengthening multilateral ties. Incidentally, the total GDP of SCO Member States exceed USD 20 trillion, accounting for nearly 25% of global GDP. The discussions at this industry interaction shall contribute some key inputs in shaping the SCO’s economic roadmap for the coming decade, in consonance with The SCO Economic Development Strategy until 2023-2030, as approved by the SCO Heads of States in July 2023. SCO Business Council Secretariat, Republic of India will continue to work closely with industry stakeholders to facilitate greater trade, investment, and technological collaboration within the SCO fraternity.

H.E. Nurlan Yermekbayev, SG SCO in his keynote address emphasized that the SCO is entering a new and more responsible historical stage. He reaffirmed the organization’s commitment to driving its economic development agenda until 2025. He stressed that the primary goal is to translate agreements into tangible economic projects and results, which requires flexible and innovative approaches alongside active involvement from the business community and industry associations.

Speaking at the event, Tarun Kapoor, Advisor to the Hon’ble Prime Minister of India highlighted India’s commitment to strengthening economic ties within the SCO region. He further said: “SCO can play a significant role, especially in the business sector, where enterprises can collaborate beyond national boundaries. Business has no limits, and entities must think globally. The Government of India stands ready to provide full support.”

Reinforcing India’s commitment to infrastructure modernization, Tribhuvan Darbari, Chairman, National Part of SCO Business Council Secretariat, India stated that:

“India’s experience in railway modernization can play a transformative role in expanding transport networks and logistics across the SCO region. Our Hon’ble External Affairs Minister Dr. S. Jaishankar recently emphasized that a stronger Indian presence in global supply chains, digital services, and infrastructure projects is vital for building a more resilient and interdependent world. By facilitating structured business collaborations, we can unlock new synergies within the SCO region.”

Darbari also highlighted the philosophy of shared growth and prosperity envisioned by the Hon’ble Prime Minister Modi – ‘SECURE’ concept, introduced earlier by the Prime Minister at the SCO Heads of State Summit, which has served as the guiding principle for shaping the activities of the SCO Business Council during India’s Presidency.

The event concluded with a call for enhanced trade regulations, digital trade platforms, and deeper industrial collaboration among SCO member nations.