IATA urges airlines to revise payment processing strategies to enhance customer experience

India's Minister of Commerce and Industry Piyush Goyal called on Indian and Uzbek enterprises to engage in joint investments, production, and innovation, setting the goal of doubling bilateral trade between the two countries within the next three years.

Speaking at the India-Uzbekistan Business Forum in New Delhi, the minister emphasized that a strategic partnership based on mutual trust, respect, and a shared vision of prosperity opens up wide opportunities for expanding trade, investment, and economic cooperation.

Welcoming the delegation, Goyal noted that India and Uzbekistan are connected not only by a rich shared history and deep cultural ties but also by significant, largely untapped business potential. According to him, bilateral trade turnover has exceeded $1.5 billion, but this is only a small fraction of what the two economies can achieve together.

The minister stressed that India offers Uzbekistan not only a large and growing market but also a reliable partner, skilled and young labor force, and a platform for innovation-driven growth. Referring to the recently signed bilateral investment treaty between India and Uzbekistan, he noted that the agreement will boost investor confidence and encourage companies from both countries to invest in each other's economies, forming long-term partnerships.

Goyal highlighted several sectors with high potential for bilateral cooperation. He pointed to substantial opportunities for Indian investments in Uzbekistan's mining sector. Furthermore, he noted prospects for interaction in the textile industry, emphasizing Uzbekistan's strong position in cotton farming and India's leadership in the textile sector, creating chances for joint development of apparel production, design, and entry into global markets.

In the pharmaceutical and medical fields, the minister stated that India, known as the 'pharmacy of the world,' can help modernize Uzbekistan's healthcare system through affordable medicines, medical equipment, diagnostics, telemedicine, medical staff training, and quality medical services. He also proposed resuming cooperation in traditional medicine systems—Ayurveda, Yoga, and Unani—which are historically linked to the Uzbek region.

Discussing agriculture and product processing, Goyal noted that cooperation in food processing, packaging, cold chains, and agricultural technologies can form global value chains beneficial to farmers in both countries, while focusing on international markets due to complementary strengths.

The minister also emphasized India's readiness to cooperate with Uzbekistan in information technology and the digital economy, expressing a desire to assist in developing digital public infrastructure and strengthening interaction in fintech, agritech, and medtech. He added that promising areas of cooperation also include component manufacturing, advanced engineering, auto parts, and automotive industry.

Goyal noted that Indian Prime Minister Narendra Modi and President of Uzbekistan Shavkat Mirziyoyev are giving new impetus to bilateral relations, bringing the peoples of the two countries closer and setting a clear political direction for the partnership. In his view, the full potential of the relationship can only be realized by deepening interaction between the businesses of both sides, expanding economic ties, increasing investment, and creating new jobs.

Stressing that trade should serve as the driving force of bilateral relations, Goyal strongly urged entrepreneurs to seize emerging opportunities to build long-term commercial partnerships. He pointed to the need to eliminate trade barriers, achieve mutual recognition of standards, approval, testing, and certification procedures, integrate customs systems through digitalization, and create more efficient trade routes to facilitate commerce.

According to him, the governments of the two countries are working to build a more structured, time-bound, and results-oriented economic partnership, and regulatory and standardizing bodies must interact more actively to support businesses on both sides. Concluding his speech, the minister reaffirmed India's commitment to deepening its economic partnership with Uzbekistan by strengthening trade, investment, and business ties.

The online taxi service Uklon is launching its activities in five new settlements of the Fergana Valley starting August 5th. This was reported by the company's press service to the publication 'Gazeta.'

The service launch will be gradual. Initially, the company will focus on connecting drivers, after which the platform will open for accepting ride and delivery orders, representatives of Uklon specified.

The General Manager of Uklon Uzbekistan, Eduard Kovtun, emphasized that entering the Fergana Valley market is a significant step in the development of the region of Uzbekistan. He noted that this valley hosts many large cities located in close proximity to each other, which ensures constant population mobility.

Drivers can join the platform independently using the Uklon Driver application. Additionally, a reduced commission is provided for them until the end of the current year.

For users in Kokand and Namangan, the 'Light' and 'Comfort' service classes will be available. Meanwhile, in Andijan, Fergana, and Margilan, clients will be offered three options: 'Light', 'Comfort', and 'Quick Search'. Users also have the option to contact Uklon's 24-hour support service.

Uklon is positioned as a Ukrainian IT company specializing in product services. Since April 2025, 97% of the company's corporate rights have belonged to Kyivstar, which is the largest electronic communications operator in Ukraine. The Uklon company began its operations in Uzbekistan in June 2023. According to the company itself, in 2025, the service served over 15 million trips in Tashkent.

Success in agriculture is no longer guaranteed solely by yield. In a market environment characterized by severe cost compression, Desri Lesele from Nedbank shares important insights regarding margin management, avoiding credit traps, and utilizing digital procurement tools.

Behind every successful summer harvest lies a careful balance between resource expenditures, market risk, and strategic planning, which determine the farm's survival. Discussing the practical side of margin management with Food For Mzansi, Desri Lesele, Senior Value Proposition Manager for Agriculture Clients at Nedbank, explains why financial discipline has evolved from an administrative preference to a strict commercial requirement for modern producers.

Lesele notes that the agricultural sector operates under high market pressure. Two consecutive strong production seasons have led to an abundance of grain supplies and lower commodity prices, while resource costs remain significantly above historical levels. He emphasizes: 'What we are seeing is a cost-compression season where margin management is as crucial as production management.'

In traditional agriculture, total tonnage per hectare is often considered the main indicator of success. However, current market conditions prove that two farmers can achieve almost identical harvests but end up with vastly different financial outcomes depending on decisions made before planting. The strategy heavily relies on proactive margin management to protect farm profits without compromising actual field productivity.

Lesele stresses that assessing a financing application goes far beyond checking standard financial statements and historical production charts. Essentially, this approach aims to stress-test the budget, clearly analyze the break-even point, and conduct a comprehensive risk assessment. The strongest funding applications are rarely the most optimistic; rather, they are those that demonstrate a clear, calculated understanding of both operational capabilities and market risks.

A critical error in this process is confusing accounting profitability with actual cash flow. While profitability shows whether a business creates value on paper, cash flow determines if the farm can survive long enough to realize that value. An agricultural business might look very successful on the balance sheets, but if its funds are tied up when resources need to be purchased, the operation faces serious strain. A lack of working capital at critical stages of the production cycle creates immense pressure.

Therefore, Lesele urges farmers to ask not only, 'Will this crop be profitable?', but also: 'When will my largest cash outflow occur?', 'How much working capital will I need?', 'What happens if the harvest is delayed?', 'What happens if prices are lower than expected?', and 'What happens if the yield is below plan?' It is these questions that test the resilience of the business and ensure the structural soundness of the financing model.

Effectively managing these cash flows requires making sound procurement decisions even before the season begins. Using digital markets provides the necessary price transparency when sourcing resources before the season starts. These platforms allow farmers to compare prices, evaluate alternative suppliers, and strictly control production costs. This disciplined approach to procurement led to Nedbank's partnership with the online agricultural marketplace PrysWys. This collaboration gives grain producers deeper insight into resource costs, enabling them to purchase more efficiently.

'The goal is to give farmers greater visibility into resource pricing and help them make more informed purchasing decisions. But the broader lesson extends beyond any single platform. The real opportunity lies in using technology to improve decision-making quality.'

Lesele's final message to grain producers preparing for the upcoming summer season is to focus entirely on building a sustainable business, rather than just chasing one harvest. He offers the advice of an experienced producer who perfectly embodies this mindset: 'I stopped trying to predict every season and started focusing on building a business that could survive most seasons.'

Ultimately, agriculture rewards meticulous preparation, not certainty. Farmers who successfully navigate this cost compression are those who proactively manage risks and build a business capable of withstanding future seasons.