Mongolia’s Deputy Prime Minister, S. Amarsaikhan, has invited Indian companies to invest in mining and oil exploration projects in the country, highlighting new opportunities to strengthen economic and strategic ties between the two nations.

The invitation was extended during the India–Mongolia Business Forum, jointly organised by the Confederation of Indian Industry (CII), the Mongolian National Chamber of Commerce and Industry (MNCII), and the Embassy of Mongolia in India.

Addressing business leaders, Amarsaikhan underscored Mongolia’s potential as a vital land bridge in India’s Indo-Pacific strategy and its strategic position between two major markets — China and Russia. He also pointed to the landmark oil refinery project being developed in Mongolia with an investment of Rs 141 billion (USD 1.7 billion), financed by the Government of India, as a symbol of the growing partnership between the two countries.

The forum brought together industry representatives and policymakers to discuss collaboration opportunities across key sectors such as agribusiness, infrastructure development, renewable energy, transport connectivity, gold refining, and critical minerals.

Officials noted that India and Mongolia share strong cultural and historical ties, now evolving into a deeper strategic and economic partnership driven by energy cooperation, trade, and regional connectivity.