Uzbekistan and India target US$5 billion trade by 2030

Tashkent, Uzbekistan (UzDaily.uz) — President of Uzbekistan Shavkat Mirziyoyev and Indian Prime Minister Narendra Modi reviewed the results of their talks held during the Indian prime minister’s state visit to Uzbekistan. At a meeting with media representatives, the leaders highlighted the elevation of bilateral relations to a comprehensive strategic partnership, the Uzbek presidential press service said.

Mirziyoyev emphasized the historic significance of Modi’s visit and described the talks as a manifestation of friendship, mutual respect and trust between the two countries.

The Uzbek president said India was a reliable and promising strategic partner for Uzbekistan with significant international standing. He also highlighted India’s achievements in digital technologies, software and startup development.

According to Mirziyoyev, the visit was preceded by extensive preparations. Following the talks, the sides adopted a package of documents, including a Joint Statement, and signed a number of intergovernmental agreements.

The talks focused primarily on trade, economic and investment cooperation. Last year, trade between Uzbekistan and India increased by 33% to US$1.3 billion. The sides set a target of raising the figure to US$5 billion by 2030.

A portfolio of key joint investment projects was formed during the visit, and specific agreements were reached with a number of major Indian companies.

New opportunities for expanding cooperation were identified in energy, critical minerals, healthcare, pharmaceuticals, electronics, mechanical engineering, the jewelry industry and agriculture.

The leaders also emphasized the need to continue mutual support on international and regional platforms. This includes cooperation within the United Nations, the Shanghai Cooperation Organisation, the Non-Aligned Movement and BRICS, as well as cooperation with Global South countries.

Particular attention was paid to cultural and humanitarian ties. Four Indian higher education institutions operate in Uzbekistan, along with the Lal Bahadur Shastri and Mahatma Gandhi centers.

Tourism links are expected to benefit from the existing 30-day visa-free regime and regular air services between the two countries, with 14 flights per week.

To ensure implementation of the agreements reached, Uzbekistan will prepare a comprehensive “Roadmap.” Mirziyoyev expressed his gratitude to his Indian counterpart and all participants in the talks.