India–Uzbekistan Business Forum Targets $2 Billion Trade and $5 Billion Investment Pipeline

The India–Uzbekistan Business Forum was held in New Delhi on August 3, bringing together senior government officials, industry leaders and more than 100 business representatives to explore opportunities for stronger trade, investment and economic cooperation.Uzbekistan’s Minister of Investments, Industry and Trade Laziz Kudratov and India’s Commerce and Industry Minister Piyush Goyal, along with representatives from FICCI and Invest India, participated in the discussions.

Bilateral trade has grown significantly, rising 30% last year to more than US$1.3 billion. Both countries are targeting US$2 billion in trade, supported by improved market access, streamlined procedures and reduced administrative barriers. A trade-facilitation memorandum is also being prepared.

The forum identified several opportunities for two-way trade. Uzbekistan is seeking to expand exports of agricultural products, fertilisers, chemicals, textiles, metals and electrical equipment, while India has potential to increase exports of pharmaceuticals, machinery, technology, industrial equipment and automotive components.

Investment cooperation was another major focus. Around 400 companies with Indian investment currently operate in Uzbekistan, while the combined pipeline of joint investment projects exceeds US$5 billion.

Priority sectors include mining, metallurgy, chemicals, energy, digital infrastructure, pharmaceuticals, healthcare, engineering and agriculture. Discussions also covered renewable energy, data centres, localisation of manufacturing, agro-industrial infrastructure and advanced healthcare facilities.

The forum concluded with both sides agreeing to accelerate promising projects and deepen the India–Uzbekistan business partnership.