India formally submitted its application to become a full member of the Shanghai Cooperation Organization (SCO) on Friday.

The application was submitted by India's External Affairs Minister Sushma Swaraj at the SCO Heads of State Summit in Dushanbel, Tajikistan.

During her address in the summit, Swaraj stated that India is ready to play a more active role in the organization and to further contribute to its activities.

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India hopes to share its technical expertise in the economic area specifically its experiences in banking, micro-finance and capital markets.

Once granted full membership, India's External Affairs Ministry spokesman Syed Akbaruddin believes that India can contribute to a better capacity in the organization's anti terror mechanisms such as the Regional Anti-Terrorism Structure (RATS).

India is one of the largest consumers of energy in the world and it is expected that demand for energy in the country will increase in the coming years. Becoming a full member of the organization could allow India to participate and be part of oil and gas explorations in Central Asia.

The current members of the SCO include China, Russia, Kyrgyzstan, Kazakhstan, Tajikistan and Uzbekistan.

Chinese President Xi Jinping stated that China welcomes all countries that wish to apply for SCO membership as long as they meet the requirements.

China and Russia have expressed their support for India's full membership in the organization as they believe that the inclusion of the world's largest democracy would add more weight to the organization.

India currently holds observer status in the organization along with Afghanistan, Iran, Pakistan and Mongolia, while Belarus, Turkey and Sri Lanka are considered as dialogue partners.  

Iran and Pakistan have also submitted their application to become full members. While India and Pakistan may have a good chance to be accepted, Iran may have to wait since the SCO does not allow countries with UN sanctions to become full members, according to Chinese officials.

TagsSCO, Sushma Swaraj, Shanghai Cooperation Organization