Uzbekistan, India target $2 billion trade milestone

Uzbekistan and India have agreed to deepen economic ties and aim to raise bilateral trade to $2 billion, officials said following a business forum in New Delhi.

The event brought together more than 100 companies from both countries, alongside Uzbekistan’s Minister of Investments, Industry and Trade Laziz Kudratov and India’s Minister of Commerce and Industry Piyush Goyal.

Participants highlighted strong recent growth in trade, noting that bilateral turnover rose by 30% in 2025 to exceed $1.3 billion for the first time. Both sides now plan to increase that figure to $2 billion, supported by efforts to streamline trade procedures and prepare a formal memorandum.

Investment cooperation was also a central focus. Around 400 enterprises with Indian capital are currently operating in Uzbekistan, while the total value of joint projects exceeds $5 billion.

Officials identified key sectors for further collaboration, including energy, pharmaceuticals, mechanical engineering, metallurgy, chemicals, digital infrastructure and agriculture.

By Tamilla Hasanova