Uzbekistan Presents Investment and Industrial Cooperation Opportunities to Indian Business

A business forum between India and Uzbekistan took place in New Delhi on August 3rd. The event gathered representatives from governments and business leaders to discuss expanding trade, economic, and investment cooperation between the two countries.

Participants included Laziz Kudratov, the Minister of Investments, Industry, and Trade of Uzbekistan; Piyush Goyal, the Indian Minister of Commerce and Industry; senior representatives from the Federation of Indian Chambers of Commerce & Industry (FICCI) and Invest India, as well as over one hundred business representatives.

Attendees reviewed the current state of bilateral interaction, identified key areas for further development, and discussed measures to strengthen trade and investment ties. It was noted that bilateral trade increased by 30% last year, exceeding $1.3 billion USD for the first time. Both sides aim to bring trade turnover to $2 billion USD by simplifying trade procedures, improving market access, and reducing administrative barriers. A memorandum of understanding to facilitate trade is currently being prepared to achieve this goal.

The forum also highlighted the complementary nature of the two economies. Uzbekistan is interested in increasing exports of agricultural and food products, fertilizers, chemicals, non-ferrous metals, textiles, electrical equipment, and other industrial goods. In turn, imports from India could increase through supplies of pharmaceuticals, technology, machinery, and automotive components.

Investment cooperation attracted particular attention. Currently, about 400 enterprises with Indian capital operate in Uzbekistan, and the total value of joint investment projects exceeds $5 billion USD. Priority areas for future cooperation were named as metallurgy, mining, chemical industry, energy, digital infrastructure, pharmaceuticals, healthcare, mechanical engineering, and agriculture. The sides also discussed projects related to deep raw material processing, production localization, renewable energy development, data centers, modern medical facilities, and agro-industrial infrastructure.

During B2B and G2B meetings, business representatives and government officials examined specific initiatives, financing mechanisms, and potential cooperation models in detail. The Ministry of Investments, Industry, and Trade of Uzbekistan reaffirmed its commitment to supporting promising investment projects at all stages—from site selection and financial agreements to commissioning. At the conclusion of the forum, the parties agreed to focus on implementing the most advanced initiatives and further strengthening Uzbekistan-India business partnership.

Representatives of the Embassy of Uzbekistan participated in the international economic summit 'Western Black Sea,' organized by the ULUSKON association and the Chamber of Commerce and Industry of the Turkish province of Kastamonu (KATSO), according to Dunyo Information Agency.

During the summit, the Uzbek delegation demonstrated the country's trade, economic, and investment potential. Current economic reforms, conditions created for foreign investors, and opportunities for joint projects in promising sectors of the economy were discussed in detail.

Discussion of Industrial Cooperation

In a meeting with the management of the Kastamonu Chamber of Commerce and Industry, the parties discussed expanding industrial cooperation in the fields of furniture, doors, and wooden products. The organization of joint production of semi-finished goods and strengthening direct ties between enterprises in Uzbekistan and Turkey were also discussed. Within the framework of these negotiations, contacts were established with Turkish companies Gülcan Mobilya, Dortek, and Zintaş.

During the visit, embassy representatives visited the production facilities of the company Miskos. The Turkish side expressed interest in entering the Uzbek market, promoting its products through the country's major retail chains, and establishing direct cooperation with local partners. Furthermore, the parties discussed the possibility of holding B2B meetings involving Uzbek trading companies concurrently with the international food exhibition F-Istanbul.

Development of Interregional Cooperation

Particular attention was paid to developing interregional cooperation during the meeting with Kastamonu Governor Hasan Baltadji. The parties reviewed prospects for interaction in industrial partnership—primarily in the production of furniture, doors, and wooden products—as well as in areas such as education, mining, healthcare, and sports tourism.

Following the negotiations, an agreement was reached to facilitate mutual visits of business delegations, expand direct contacts between entrepreneurs, encourage student exchange programs, and study the possibility of creating a partnership between Kastamonu Province and a region of Uzbekistan with similar economic potential.

Uzbekistan organized a business mission for construction material producers to Turkmenistan with the aim of increasing exports and strengthening direct business ties between entrepreneurs of both countries.

Mission Activities

The mission is being conducted under the leadership of the Uzkorilishmateriallari Association. In 2024, the volume of construction material exports from Uzbekistan to Turkmenistan amounted to 18 million US dollars, and in 2025, this figure increased to 24.2 million US dollars.

Events in Ashgabat

As part of the visit, Uzbek entrepreneurs are visiting construction and infrastructure sites in Ashgabat, studying the local market, and holding meetings with representatives of the industry business. Participation in the Uzbekistan–Turkmenistan business forum is also planned.

Representatives of Uzbek companies have already visited major construction markets and commercial complexes in Ashgabat and held a meeting with the management of the AK Gaya construction complex. The discussion focused on the possibilities of supplying Uzbek construction materials to Turkmenistan, expanding the product range, and establishing long-term trade relations.

Goals of the Mission

The Uzbek delegation presented its production and export capabilities to its Turkmen partners, as well as provided information on product quality, prices, and delivery options for the Turkmen market. The main objectives of the business mission are to increase the export of construction materials, find new areas of cooperation, and expand trade ties between entrepreneurs of the two nations.