Uzbekistan and India target $5bn trade turnover by 2030
Uzbekistan and India aim to increase bilateral trade fivefold to $5bn by 2030, setting an ambitious target as President Shavkat Mirziyoyev and Indian Prime Minister Narendra Modi seek to deepen economic and strategic ties.
The goal was announced during talks between the two leaders in Tashkent, where they discussed expanding cooperation across sectors ranging from energy and critical minerals to pharmaceuticals and agriculture.
Trade between Uzbekistan and India exceeded $1bn in 2025. By August 1 this year, turnover had passed $690mn, underlining the faster pace of commercial exchanges between the two countries.
The sides identified energy, electrical engineering, metallurgy, critical minerals, health care, pharmaceuticals, agriculture and jewellery as priority areas for cooperation. Indian investment and loans to Uzbekistan totalled $225.9mn in the first half of 2026, while 439 enterprises involving Indian capital were operating in the country at the beginning of August.
Economic links move beyond trade
Mirziyoyev and Modi also discussed strengthening the broader strategic partnership and aligning economic cooperation with the Viksit Bharat and New Uzbekistan development programmes.
Regional ties are being reinforced through cooperation between individual areas, including Andijan and the Indian state of Gujarat, as well as Samarkand and Agra. The number of Uzbek-Indian enterprises has increased sevenfold in recent years, while airlines now operate 14 direct flights between the two countries each week.
The expansion of economic ties comes as both governments look to reduce barriers to trade and attract investment into new sectors. Earlier this month, officials from the two countries also discussed a separate goal of increasing trade to $2bn through improved market access and simplified procedures.
