Uzbekistan, India Set Ambitious $5 Billion Trade Goal

photo: UzA

Uzbekistan, India Set Ambitious $5 Billion Trade Goal

Uzbekistan and India are preparing to elevate their relations to a comprehensive strategic partnership, with the two countries setting an ambitious goal of increasing bilateral trade to $5 billion by 2030.

President of Uzbekistan Shavkat Mirziyoyev and Indian Prime Minister Narendra Modi held talks at the Kuksaroy Residence, where they discussed expanding cooperation across trade, investment, industry, education and culture, UzA reports.

Modi congratulated Mirziyoyev on Uzbekistan’s Independence Day and wished the Uzbek people peace, prosperity and well-being.

Economic ties have been growing rapidly. Bilateral trade exceeded $1 billion for the first time last year, while the number of joint ventures between Uzbek and Indian businesses has increased sevenfold in recent years.

The sides agreed to take practical steps toward raising trade turnover to $5 billion by 2030.

They also identified opportunities for new joint projects involving major Indian companies in sectors including:

energy and electrical engineering;

metallurgy and critical minerals;

healthcare and pharmaceuticals;

agriculture;

jewelry manufacturing.

Connectivity is also expanding, with 14 direct flights operating between Uzbekistan and India each week.

The two sides agreed to intensify political contacts and exchanges at all levels, including through parliamentary friendship groups, the Intergovernmental Commission and the Business Council.

A new coordination mechanism involving the two countries’ foreign ministers will also be established to support more effective cooperation.

Regional partnerships are expected to play a growing role. Existing cooperation includes ties between Andijan and Gujarat, Fergana and Haryana, and Samarkand and Agra.

Humanitarian cooperation was another key focus of the talks. Four Indian universities are currently operating in Uzbekistan, while the Lal Bahadur Shastri Centre for Indian Culture and the Mahatma Gandhi Centre for Indian Studies are contributing to closer cultural ties.

The sides also highlighted the growing popularity of yoga in Uzbekistan.

The countries plan to regularly organize Days of Culture, concerts, exhibitions, forums and film festivals. A five-year Cultural Exchange Program is also expected to be signed during the visit.

The sides emphasized the historic importance of the current visit, which is expected to mark the transition of Uzbekistan-India relations to a comprehensive strategic partnership.

They also discussed international and regional issues and stressed the importance of continued cooperation and mutual support within the United Nations, Shanghai Cooperation Organisation, BRICS and other international organizations.

Following the talks, Uzbek and Indian ministries and agencies were instructed to accelerate joint projects. Roadmaps will be prepared for each priority area, setting out concrete measures, responsible institutions and officials, and implementation deadlines.

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Uzbekistan, India Set Ambitious $5 Billion Trade Goal

Uzbekistan and India are preparing to elevate their relations to a comprehensive strategic partnership, with the two countries setting an ambitious goal of increasing bilateral trade to $5 billion by 2030.