Ministry of Investment, Industry and Trade of the Republic of Uzbekistan

On August 3, the Uzbekistan–India Business Forum was held in New Delhi. The event brought together the Minister of Investment, Industry and Trade of the Republic of Uzbekistan, Laziz Kudratov, the Minister of Commerce and Industry of India, Piyush Goyal, representatives of the Federation of Indian Chambers of Commerce and Industry (FICCI), Invest India, and more than 100 representatives of the business community and leading companies from both countries.

The forum combined government and business agendas. Participants reviewed the current state of trade and economic cooperation, identified key growth opportunities, and outlined priorities for further collaboration.

It was noted that the centuries-old friendship between the peoples of Uzbekistan and India is now founded on strategic partnership and mutual trust. Thanks to the vision of the leaders of the two countries, bilateral relations continue to expand through trade, investment, and industrial cooperation initiatives.

One of the key topics was bilateral trade. Last year, trade turnover increased by 30 percent, exceeding USD 1.3 billion for the first time. The two sides aim to raise this figure to USD 2 billion by improving market access, simplifying procedures, and reducing administrative barriers. To this end, a Memorandum of Understanding on Trade Promotion is currently being prepared.

The complementary nature of the two economies was emphasized. Uzbekistan is ready to expand exports of agricultural and food products, fertilizers, chemical products, non-ferrous metals, textiles, electrical equipment, and other industrial goods. At the same time, imports from India could increase through pharmaceuticals, technologies, machinery, equipment, and automotive components.

The investment agenda was also discussed in detail. Today, around 400 enterprises with Indian capital operate in Uzbekistan, while the total portfolio of joint projects exceeds USD 5 billion. It was noted that Indian businesses are increasingly moving from market assessment to practical investment.

Priority sectors include metallurgy and mining, the chemical industry, energy and digital infrastructure, pharmaceuticals and healthcare, mechanical engineering, and the agro-industrial sector.

Particular emphasis was placed on deep processing of raw materials, localization, production of high value-added goods, development of renewable energy and data centers, as well as the establishment of modern healthcare and agro-industrial facilities. Participants were presented with Uzbekistan's advantages as a manufacturing and export platform. It was emphasized that localizing production in the country provides investors with access to a rapidly growing domestic market and extensive export opportunities to other regions.

During the B2B and G2B meetings, representatives of companies and government agencies discussed specific proposals, potential partnership formats, financing mechanisms, and follow-up steps. The Ministry of Investment, Industry and Trade of the Republic of Uzbekistan reaffirmed its readiness to support promising projects at every stage—from site selection and financing arrangements to commissioning. The negotiations helped identify new areas of mutually beneficial cooperation and shape a practical agenda. The priority now will be to swiftly transform the most advanced proposals into concrete investment projects.