The Shanghai Cooperation Organisation (SCO) said Kazakhstan was ready to host the headquarters of its planned development bank as Indian Defence Minister Rajnath Singh pressed members to cut regional trade costs. The bloc said the bank is intended to help identify and finance joint projects.
At the Council of Heads of Government meeting in Dushanbe, Tajikistan, Singh connected digital systems that work across borders with smoother customs handling and logistics. The ministry said he presented those measures as ways to reduce business costs across the region.
Singh's appeal came amid geopolitical tensions and interruptions to trade and supply chains, as well as concerns about energy, food and emerging technological divides, the ministry said. He called for stronger supply networks and greater trade and investment, with technology supporting development.
The ministry said Singh described different intended benefits: opportunities for young people, access to markets for entrepreneurs, and technology access for farmers and small-scale business owners.
Delegates adopted the 2026-2030 trade and economic cooperation action plan and a joint communiqué, the ministry said. Separately, the SCO said members approved its 2027 budget and Uzbekistan will host the next Council of Heads of Government meeting in 2027.
