India-Uzbekistan Target Doubling Bilateral Trade with New Strategic Business Partnership

At the India-Uzbekistan Business Forum in New Delhi, Union Minister of Commerce and Industry Piyush Goyal urged businesses from both nations to co-invest, co-manufacture, and co-innovate, aiming to double bilateral trade within three years. With two-way trade already reaching around ₹14,473.50 crore ($1.52 billion), the recently concluded Bilateral Investment Treaty (BIT) is poised to bolster investor confidence and unlock long-term capital. The economic partnership seeks to capitalize on India’s expansive domestic market, skilled talent pool, and innovation ecosystem alongside Uzbekistan’s strategic geographical position and abundant natural resources. Key sectors highlighted for strategic cooperation include textiles, pharmaceuticals, healthcare, mining, digital technologies, agriculture, automotive, and advanced manufacturing. Joint efforts will merge Uzbekistan’s rich cotton output with India’s textile processing strengths, alongside driving innovations in medtech, fintech, and Digital Public Infrastructure (DPI). To ensure seamless execution, both nations agreed to dismantle trade barriers, recognize mutual standards, digitalize customs processes, and enhance overall connectivity to boost job creation and solidify their long-term economic alliance.