India and Uzbekistan Aim to Double Bilateral Trade

Uzbekistan's Foreign Minister Bakhtiyor Saidov conducted a high-level official visit to New Delhi from August 2 to 5, 2026, to strengthen strategic partnerships between the two nations. During the visit, Minister Saidov met with President Droupadi Murmu at Rashtrapati Bhavan and held bilateral talks with India's External Affairs Minister Subrahmanyam Jaishankar at Hyderabad House to discuss cooperation in energy, security, and connectivity.

A central component of the visit was the India-Uzbekistan Business Forum on August 3, where officials focused on expanding economic ties. Uzbekistan's Minister of Investment, Industry and Trade, Laziz Kudratov, invited Indian companies to invest in pharmaceuticals, chemicals, and the automotive sector, with a specific emphasis on mining and metallurgy for gold, copper, uranium, and rare earth elements.

Indian Commerce and Industry Minister Piyush Goyal called for doubling bilateral trade within three years and described the prospect of a free trade agreement as a promising idea. While 2023 trade figures were reported as low as USD 756.60 million, other data indicates current trade between USD 1.3 billion and USD 1.5 billion. Uzbekistan projects trade will reach USD 2 billion next year, with a long-term goal of USD 3-5 billion. Currently, approximately 400 Indian companies operate in Uzbekistan with a joint project portfolio exceeding USD 5 billion.