BAKU, Azerbaijan, Aug. 4. Uzbekistan and India
agreed to intensify efforts to expand bilateral trade to $2 billion
and accelerate investment cooperation during the Uzbekistan-India
Business Forum held in New Delhi, bringing together government
officials and more than 100 business representatives from both
countries.
This was reflected in the statement by the Ministry of
Investment, Industry and Trade of Uzbekistan.
The forum was attended by Uzbekistan's Minister of Investments,
Industry and Trade Laziz Kudratov, India's Minister of Commerce and
Industry Piyush Goyal, executives from the Federation of Indian
Chambers of Commerce and Industry (FICCI) and Invest India, as well
as representatives of leading companies and business
associations.
The event focused on expanding trade, investment and industrial
cooperation, with participants identifying priority sectors and
practical measures to strengthen economic ties.
"The forum made it possible to identify new areas of mutually
beneficial cooperation and shape a practical agenda focused on
transforming the most promising proposals into concrete investment
projects," Uzbekistan's Ministry of Investments, Industry and Trade
said in a statement.
According to the ministry, bilateral trade rose 30% in 2025,
exceeding $1.3 billion for the first time. The two sides agreed to
work toward increasing trade turnover to $2 billion by improving
market access, simplifying trade procedures and reducing
administrative barriers. A memorandum on trade facilitation is
currently being prepared to support that goal.
Officials noted that Uzbekistan and India have complementary
economies, creating opportunities to expand trade. Uzbekistan is
seeking to increase exports of agricultural and food products,
fertilizers, chemicals, non-ferrous metals, textiles, electrical
equipment and other manufactured goods, while expanding imports of
Indian pharmaceuticals, technologies, machinery and automotive
components.
Investment cooperation also featured prominently on the agenda.
Nearly 400 companies with Indian capital currently operate in
Uzbekistan, while the portfolio of joint projects exceeds $5
billion, reflecting growing Indian interest in the Uzbek
market.
The forum identified metallurgy and mining, chemicals, energy,
digital infrastructure, pharmaceuticals, healthcare, machinery
manufacturing and agribusiness among the priority sectors for
future investment. Discussions also focused on deep processing of
raw materials, localization, production of high-value-added goods,
renewable energy projects, data centers and modern healthcare and
agricultural facilities.
Participants also held business-to-business (B2B) and
government-to-business (G2B) meetings to discuss specific
investment proposals, financing mechanisms and implementation
plans.
The ministry reaffirmed its readiness to support investors
throughout the entire project cycle, from site selection and
financing to commissioning, as Uzbekistan continues to position
itself as a manufacturing and export hub for international
companies targeting both the domestic and regional markets.
