Uzbekistan, India Target US$5bn in Trade Turnover
Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan and India plan to increase bilateral trade turnover to US$5 billion within the next four to five years by developing programs in key areas and combining them into a single joint roadmap, Deputy Minister of Investment, Industry and Trade Shokhrukh Gulyamov said.
According to Gulyamov, the presidents of Uzbekistan and India discussed specific projects during their talks and set relevant instructions and targets for each area. Based on these decisions, separate programs will be prepared taking into account the specific characteristics and development drivers of each area.
The individual programs will then be combined into a single roadmap for cooperation between the two countries.
Bilateral trade turnover amounted to US$1.3 billion in 2025. In the first seven months of 2026, the figure approached US$700 million. To reach the US$5 billion target, the sides plan to make use of existing opportunities and reserves.
Gulyamov identified an agreement on mutual promotion of preferential trade between Uzbekistan and India as one of the key steps toward achieving the target.
According to the deputy minister, a draft agreement has already been prepared. A marketing study is currently underway and is expected to be completed within two to three months. The proposals will then be submitted to the President for consideration.
Investment cooperation also remains a priority area of bilateral relations. More than 400 enterprises with Indian capital are currently operating in Uzbekistan.
Particular attention during the visit was paid to technological cooperation. The sides agreed on a separate program for jointly implementing projects in this area.
