India and Uzbekistan have agreed to strengthen trade and investment ties by expanding bilateral commerce, removing trade barriers, promoting industrial cooperation, critical minerals, digital trade, agriculture, transport connectivity, renewable energy, artificial intelligence and peaceful space cooperation.
Prime Minister Narendra Modi and Uzbekistan President Shavkat Mirziyoyev on Sunday agreed to further deepen trade and investment relations between India and Uzbekistan, with a strong focus on diversifying bilateral commerce, expanding industrial cooperation and creating new investment opportunities.
The agreement was outlined in a joint statement issued after the two leaders held discussions on strengthening economic and strategic cooperation between the two countries. Both sides underlined the importance of identifying new areas of partnership and making greater use of the existing potential in bilateral economic relations.
The leaders agreed that India and Uzbekistan should work towards enhancing and diversifying bilateral trade by identifying new opportunities across several sectors. Electrical items, engineering products, automobiles and pharmaceuticals were identified as areas with considerable potential for expansion. The two sides also called for stronger business-to-business engagement in these sectors to support trade growth and encourage private-sector partnerships.
As part of efforts to increase bilateral trade turnover, India and Uzbekistan agreed to take joint measures to broaden the range of goods traded between the two countries. The two sides also agreed to work towards removing non-tariff barriers and promoting greater industrial cooperation.
A significant part of the discussions focused on geology, mining and critical and strategic minerals. The leaders agreed to explore cooperation in geological exploration, mining, mineral processing and the development of integrated value chains. The proposed cooperation would include projects aimed at processing mineral resources, manufacturing value-added products and promoting recycling initiatives.
The two leaders also expressed interest in encouraging Indian companies to participate in the development of prospective mineral deposits in Uzbekistan. At the same time, Uzbek enterprises could explore opportunities for joint collaboration and investment projects in India. The discussions also covered cooperation in the peaceful uses of nuclear energy.
Critical minerals are increasingly important for modern industries, clean-energy technologies and advanced manufacturing. In this context, the proposed India-Uzbekistan cooperation could create opportunities for long-term partnerships involving exploration, extraction, processing and value addition.
Energy cooperation was another important area highlighted by the two sides. The leaders welcomed discussions on renewable energy, modernisation of energy infrastructure and prospective investment projects. Both countries expressed an interest in expanding cooperation that can support sustainable energy development and strengthen investment opportunities in the sector.
India and Uzbekistan also agreed to strengthen cooperation in e-commerce and the digitalisation of trade procedures. The two sides discussed the use of digital platforms to support small and medium-sized enterprises and make bilateral trade more efficient. Greater digitalisation could help businesses access markets, simplify procedures and facilitate cross-border commercial activity.
The Uzbek side also appreciated India’s support for Uzbekistan’s accession to the World Trade Organization. Both countries agreed to work together to preserve and strengthen the multilateral trading system, with the WTO at its core, particularly in the interests of developing countries.
Investment facilitation also featured prominently in the joint statement. The leaders agreed to identify and promote mutually beneficial investment opportunities and establish an institutional mechanism to address concerns raised by investors. Such a mechanism is expected to help improve the ease of doing business and create a more predictable environment for companies from both countries.
Agriculture emerged as another area of potential cooperation. India and Uzbekistan agreed to work together on developing agricultural value chains, strengthening export capabilities and improving technical capacities in the agriculture and livestock sectors. The two sides also supported greater cooperation between research institutions and enterprises to improve agricultural productivity.
The countries further backed cooperation in the conservation and sustainable utilisation of plant genetic resources. Increased collaboration in agricultural research and technology could contribute to improved productivity while supporting sustainable farming practices.
Transport and logistics connectivity between India and Uzbekistan was also discussed. The leaders reaffirmed their commitment to developing multimodal transport routes and logistics corridors that can facilitate the seamless movement of goods. Better connectivity is expected to support trade and strengthen economic links between the two countries.
The leaders also recognised the importance of environmentally friendly and energy-efficient solutions for Uzbekistan’s public transport sector. India and Uzbekistan agreed to explore opportunities for joint projects in this area, potentially opening another avenue for cooperation in sustainable urban mobility.
Emerging technologies were also included in the broader economic partnership. The two sides agreed to strengthen cooperation in the development and advancement of safe, secure and trustworthy artificial intelligence systems. This cooperation is expected to include exchanges of experience and best practices.
According to the joint statement, India and Uzbekistan intend to harness the potential of artificial intelligence to promote sustainable economic growth, innovation-led development and solutions to societal challenges. The focus on responsible AI also reflects the growing importance of technology in bilateral economic and development cooperation.
The two countries further reaffirmed their interest in expanding practical cooperation in outer space. Areas identified include space applications, scientific data exchange and capacity-building through joint workshops and training programmes.
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The wide-ranging agreements indicate an effort by India and Uzbekistan to expand their relationship beyond traditional trade and investment into critical minerals, energy, agriculture, digital technology, artificial intelligence, transport and space cooperation. The focus on business partnerships, investment facilitation and improved connectivity is expected to provide additional opportunities for companies and institutions in both countries.
