Murmu urges India, North Macedonia to double trade by decade end

Skopje,UPDATED: Jul 21, 2026 23:16 IST

President Droupadi Murmu on Tuesday said India and North Macedonia should broaden their economic engagement and aim to double bilateral trade by the end of this decade. Addressing the inaugural session of the India-North Macedonia Business Forum, she said the economic and commercial relationship between the two countries remains a frontier waiting to be fully explored.

Murmu said bilateral trade has been moving on a positive path but is still far below its potential, and stressed that the two sides should move beyond trade towards a wider economic partnership driven by stronger mutual investments. She identified digital innovation and artificial intelligence, pharmaceuticals and healthcare, agro-processing, and green energy as key areas for future cooperation.

“Our bilateral trade volume shows a steady positive trajectory, but it represents only a fraction of what is possible,” she said. India exports organic chemicals, high-grade iron and steel, electrical machinery and textiles to North Macedonia, while North Macedonia exports high-quality marble that is valued in the Indian market. “We should further diversify and set an ambitious target to double our trade volume by the end of this decade,” she said.

The president said India has transformed governance through the widespread use of Digital Public Infrastructure. “Tools like Universal Payments Interface or UPI have fostered financial inclusion and brought millions into the formal economy. We invite North Macedonia to co-author the next chapter of this digital revolution, supported by your highly educated, multilingual tech talent,” she said. She also called for greater collaboration among start-ups, universities, research institutions and technology enterprises, and said cooperation in artificial intelligence, cybersecurity and digital innovation should be explored.

Describing India as the “pharmacy of the world”, Murmu said the country’s pharmaceutical sector is poised to invest in North Macedonia. “By establishing joint manufacturing facilities here, we can secure the supply of affordable, advanced life-saving medicines and medical devices for the entire Balkan and European markets,” she said. She added that North Macedonia’s fertile land and strategic location make it an ideal destination for Indian agro-companies. “Our businesses can explore collaboration in modern food processing and cold-chain logistics, and build a resilient food supply chain that connects into the broader European Union markets,” she said.

Murmu said India, through platforms such as the Solar Alliance, is pioneering scalable renewable energy solutions, and there is immense scope for joint investments in solar energy, wind infrastructure and green hydrogen technologies. She also invited North Macedonia to join the ISA. Summing up her pitch for closer ties, Murmu said businesses from both countries should identify viable projects and build long-term commercial relationships. “Let us work together to build an India–North Macedonia economic partnership founded on trust, innovation and shared prosperity,” she said.

With PTI Inputs

- Ends