India & Uzbekistan: Building a $2B Economic Future

The India–Uzbekistan Business Forum, held in New Delhi on August 3, convened top government officials and over 100 industry leaders to strengthen economic ties. Co-chaired by Uzbekistan’s Minister Laziz Kudratov and India’s Commerce Minister Piyush Goyal alongside FICCI and Invest India, the event highlighted a 30% growth in bilateral trade to over US$1.3 billion, with both nations actively targeting a US$2 billion milestone.

Discussions emphasized expanding cross-border trade—with Uzbekistan boosting agricultural and chemical exports, and India increasing pharmaceutical and technology shipments. Investment cooperation took center stage, highlighted by an existing footprint of 400 Indian-backed companies in Uzbekistan and a joint project pipeline exceeding US$5 billion. Priority sectors for future collaboration include mining, renewable energy, digital infrastructure, and advanced healthcare.

News by Rahul Yelligetti.