Uzbekistan and India have set a target of increasing bilateral trade to $5 billion by 2030, while expanding cooperation in energy, critical minerals, healthcare, pharmaceuticals, electronics, machinery, jewelry and agriculture as the two countries elevate their relationship to a comprehensive strategic partnership. This was reflected in the statement by the press service of the Uzbek president. President Shavkat Mirziyoyev and Indian Prime Minister Narendra Modi discussed the outcome of their talks during a meeting with representatives of the media, highlighting the economic and strategic significance of Modi’s visit to Uzbekistan.
Mirziyoyev described the visit as historic and said the talks demonstrated the “sincere friendship, mutual respect and trust” between the two countries. He also praised India’s achievements in digital technologies, software and startups, areas that Uzbekistan sees as increasingly important for its own economic modernization. Economic cooperation was a central focus of the discussions.
Bilateral trade increased 33% last year to $1.3 billion, and the two leaders agreed to pursue a significantly higher trade target of $5 billion by 2030. A portfolio of key joint investment projects was also developed during the visit, with specific agreements reached with several major Indian companies. The two sides identified new growth areas in energy, critical minerals, healthcare, pharmaceuticals, electronics, machinery, jewelry manufacturing and agriculture.
The two countries also agreed to maintain mutual support at international and regional organizations, including the United Nations, Shanghai Cooperation Organization, Non-Aligned Movement and BRICS, as well as strengthen cooperation with countries of the Global South. People-to-people ties are also expected to expand. Four Indian universities currently operate in Uzbekistan, while the Lal Bahadur Shastri and Mahatma Gandhi centers continue their activities.
Uzbekistan’s 30-day visa-free regime for Indian citizens and 14 weekly flights between the two countries are expected to support further growth in tourism. The $5 billion trade target represents an ambitious effort to more than triple current bilateral trade within four years. Achieving it will likely require not only higher goods trade but also substantial growth in investment, industrial cooperation and services.
The emphasis on critical minerals, energy and technology could give the relationship a stronger economic foundation, while India’s growing engagement provides Uzbekistan with another major Asian partner as Tashkent continues diversifying trade and investment ties. To translate the agreements into measurable results, Mirziyoyev said Uzbekistan will prepare a comprehensive “Road Map” for implementing the agreements reached during the visit. The broader figures also point to a relationship that is expanding beyond traditional trade.
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