Uzbekistan and India Discuss New Investment Projects at Business Forum
Tashkent, Uzbekistan (UzDaily.uz) — The India–Uzbekistan Business Forum was held in New Delhi on 3 August, bringing together government officials and business leaders to discuss expanding trade, economic and investment cooperation between the two countries.
The event was attended by Uzbekistan's Minister of Investments, Industry and Trade Laziz Kudratov, India's Minister of Commerce and Industry Piyush Goyal, senior representatives of the Federation of Indian Chambers of Commerce and Industry (FICCI), Invest India, and more than 100 business representatives.
Participants reviewed the current state of bilateral cooperation, identified key areas for further development and discussed measures to strengthen trade and investment ties.
During the forum, it was noted that bilateral trade increased by 30% last year, surpassing US$1.3 billion for the first time. The two sides aim to raise trade turnover to US$2 billion by improving market access, simplifying trade procedures and reducing administrative barriers. A memorandum of understanding on trade facilitation is currently being prepared to support this objective.
The forum also highlighted the complementary nature of the two economies. Uzbekistan is interested in expanding exports of agricultural and food products, fertilisers, chemicals, non-ferrous metals, textiles, electrical equipment and other industrial goods. At the same time, imports from India could increase through supplies of pharmaceuticals, technologies, machinery, industrial equipment and automotive components.
Investment cooperation received particular attention. Around 400 enterprises with Indian capital currently operate in Uzbekistan, while the total value of the joint investment project portfolio exceeds US$5 billion.
Priority areas for future cooperation include metallurgy, mining, the chemical industry, energy, digital infrastructure, pharmaceuticals, healthcare, mechanical engineering and agriculture. The two sides also discussed projects involving deeper processing of raw materials, production localisation, renewable energy development, data centres, modern healthcare facilities and agro-industrial infrastructure.
During B2B and G2B meetings, business representatives and government officials reviewed specific initiatives, financing mechanisms and potential cooperation models.
Uzbekistan's Ministry of Investments, Industry and Trade reaffirmed its commitment to supporting promising investment projects at every stage, from site selection and financing arrangements to commissioning.
At the conclusion of the forum, the two sides agreed to focus on implementing the most advanced initiatives and further strengthening the Uzbekistan–India business partnership.
