India-Uzbekistan Trade Target: $5 Billion by 2030
By Business Desk
India and Uzbekistan aim to reach $5 billion in bilateral trade by 2030, up from $1.3 billion, by tackling trade barriers and enhancing cooperation.
India and Uzbekistan have set an ambitious target to increase their bilateral trade to $5 billion by 2030. This represents a significant jump from the $1.3 billion recorded in 2025.
The new objective was established during Prime Minister Narendra Modi’s visit to Uzbekistan, where discussions with President Shavkat Mirziyoyev focused on removing non-tariff barriers and addressing investment challenges.
Strengthening Economic Ties
Both nations plan to form a joint working group dedicated to tackling these issues. They will also explore the possibility of a Preferential Trade Agreement to facilitate smoother commerce.
Key areas identified for enhanced cooperation include electrical items, engineering products, and automobiles. Pharmaceuticals, e-commerce, and digital transformation are also central to the expanded partnership.
Collaboration will extend to critical minerals, encompassing geological exploration and processing. The countries will further explore peaceful applications of nuclear energy.
Enhancing Connectivity and Technology
Efforts are slated to improve transport connectivity between the two nations. This includes sharing expertise in road construction.
Partnerships in technology are also set to expand, specifically in the development of IT parks and artificial intelligence initiatives.
Elevating Strategic Partnership
The bilateral relationship is set to be elevated to a Comprehensive Strategic Partnership. A foreign ministers-led coordination mechanism will oversee the implementation of agreements.
The leaders welcomed the outcomes from both the Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation and the Uzbekistan-India Business Forums.