ANOTHER LANDMARK IS IN HATCHING
India and Mongolia enjoy centuries-long spiritual bonds and a shared civilization. Thus, they attach particular importance to their relations and Mongolia...
India and Mongolia enjoy centuries-long spiritual bonds and a shared civilization. Thus, they attach particular importance to their relations and Mongolia considers India as her “Third Neighbor”. Their collaborations are exponentially growing in multiple areas including economy.
One. When Honourable Narendra Modi, Prime Minister of India announced to offer one billion $ Line of Credit (LoC) during his state visit to Mongolia in May, 2015, the two governments have encountered the daunting task to identify where and how to use it most effective way.
After a series of surveys, numerous talks were held to select areas to implement sustainable and economically viable project, the Mongolian government made its choice to apply it in key areas of railways, agriculture and processing industry, in particular the oil sector. This decision, I assume, took into consideration of specific geography and economy of Mongolia like as land-locked, sparsely populated enormous land, which is richly endowed with natural resources, abundant animal husbandry and land cultivation as well as booming sector of mining, proximate to almost insatiable markets.