India Uzek Trade Projected to Double from Present
$1.3 bn
Ř India and Uzbekistan agree to deepen
trade, address non-tariff barriers and work towards doubling bilateral trade in
next three years
·
The
14th India-Uzbekistan
Intergovernmental Commission (IGC) meeting was co-chaired by
Rajesh Agrawal and Shokhrukh Gulamov.
·
Both
countries reaffirmed their strategic partnership and commitment to
strengthening economic cooperation.
·
India
and Uzbekistan agreed to work towards doubling
bilateral trade within the next three years.
·
Uzbekistan’s
trade with India reached US$
1.3 billion in 2025, growing by 33.3% over the previous year.
·
India
highlighted its strong export performance, with total goods and services
exports estimated at US$
860.09 billion in FY 2025-26.
·
Key
sectors identified for expanding trade include:
o
Pharmaceuticals
and medical devices
o
Agriculture
and processed foods
o
Agricultural
machinery
o
Engineering
and electrical goods
o
Electronics
and smartphones
o
Automobiles
and auto components
o
Textiles
and chemicals
o
Healthcare,
education, tourism, logistics, and business services
·
Pharmaceuticals
were recognized as a priority area, with India emphasizing its role as the
“Pharmacy of the World.”
·
Both
sides agreed to strengthen cooperation in agriculture, seed development,
agricultural research, and climate-resilient farming technologies.
·
Discussions
were held on ICT and digital cooperation, including:
o
Digital
public infrastructure
o
Fintech
and cybersecurity
o
Telecom
and digital education
o
Customs
data exchange
o
Interlinking
payment systems for easier trade and tourism
·
Energy
and critical minerals were identified as important areas for future
cooperation.
·
India
called for a time-bound mechanism to address non-tariff barriers such as standards,
certifications, customs procedures, and market-access requirements.
·
Both
countries emphasized improving transport and logistics connectivity to enhance
trade.
·
Uzbekistan
proposed sharing expertise in digital logistics and customs facilitation.
·
The
two sides agreed to encourage greater participation in trade fairs, business
forums, and buyer-seller meetings.
·
The
15th India-Uzbekistan
Intergovernmental Commission meeting will be held in India on a
mutually agreed date.
[ABS News
Service/20.06.2026]
Rajesh Agrawal, Secretary, Department of
Commerce, Ministry of Commerce and Industry, Government of India, co-chaired
the 14th Session of the India-Uzbekistan Intergovernmental Commission on Trade,
Economic, Scientific and Technological Cooperation with Mr. Shokhrukh
Gulamov, Deputy Minister of Investment, Industry and Trade of the Republic of
Uzbekistan. The meeting was held in Tashkent, with the Indian co-chair
participating through video conference.
The Commission reviewed the full range of
bilateral economic engagement and reaffirmed the strategic character of
India-Uzbekistan relations, rooted in historical and civilizational ties and
strengthened by the leadership of Prime Minister Narendra Modi and President
Shavkat Mirziyoyev.
The Commerce Secretary stated that India
approaches the partnership with confidence in its economic journey. India’s
total exports of goods and services in FY 2025-26 are estimated at US$ 860.09
billion, while cumulative exports during April-May 2026-27 reached US$ 162.69
billion, registering growth of 14.66 per cent over the same period of the
previous year. Merchandise exports grew by 16.09 per cent, with engineering
goods, electronic goods, chemicals, petroleum products, gems and jewellery among the major drivers.
Both sides welcomed the sustained growth
in bilateral trade. Uzbekistan reported that trade turnover with India reached
US$ 1.3 billion in 2025 (growth of 33.3% over the previous year) and
Uzbekistan’s exports to India stood at US$ 164.6 million (growth of 25.4%),
while its imports from India reached US$ 1.15 billion, growing by 34.6%. Indian
exports to Uzbekistan have grown at a CAGR of 12.9% over the last decade, while
India’s services exports to Uzbekistan stood at US$ 372.2 million in 2024.
The Commission discussed several product
categories where Indian supplies to Uzbekistan can be expanded. These include
pharmaceuticals, medical devices, agricultural products, processed foods,
agricultural machinery, engineering goods, electrical machinery, electronics,
smartphones, automobiles and auto components, tractor accessories, textiles and
textile machinery, chemicals, healthcare services, education services, tourism,
logistics and other business services. This wider trade basket is aligned with
the Government of India’s commitment to create new market opportunities for
farmers, MSMEs, women entrepreneurs, young innovators and Indian businesses. It
also reflects India’s growing capacity to supply quality goods and services
across traditional and emerging sectors, while contributing to higher incomes,
job creation and stronger people-to-people economic linkages.
Pharmaceuticals were identified as a
priority area. India highlighted its role as the Pharmacy of the World and its
capacity to supply affordable and quality-assured medicines, vaccines and
active pharmaceutical ingredients.
Agriculture and allied sectors received
focused attention. Both sides recognized India’s capabilities in agriculture
and allied exports, processed foods, agricultural machinery, seed development,
agricultural research and climate-resilient farming technologies.
The two sides also discussed ICT and
digital cooperation. India highlighted its capabilities in IT, digital public
infrastructure, telecom, fintech, cybersecurity, health services, digital
education, engineering consultancy and digital logistics. The Indian side
suggested cooperating on customs data exchange and exploring interlinking of
payment infrastructure for secure and efficient payments, with a view to
supporting tourism, trade and commerce.
Energy was discussed as an area of
strategic cooperation. India noted that its fast-growing digital economy,
including rising demand from artificial intelligence, data centres
and advanced computing, requires reliable and clean baseload power. In this
context, ensuring critical minerals supply was identified as an important area
for advancing India-Uzbekistan energy cooperation.
The Commerce Secretary stated that
non-tariff barriers relating to approvals, standards, testing, certification,
customs procedures and market-access requirements need regular review; and
businesses need predictability, regulators need dialogue and standards bodies
need direct contact. A time-bound mechanism on resolving non-tariff barriers to
trade would help convert goodwill into trade outcomes.
Both sides recognized that robust
transport and logistics connectivity are essential for unlocking the full
economic potential of the relationship. The Uzbek side proposed sharing
experience in digital logistics platforms and customs facilitation mechanisms.
The Commerce Secretary invited Uzbek
businesses to participate more actively in trade fairs, buyer-seller meets,
investment forums and sectoral events in India. Both sides agreed to encourage
closer engagement between chambers of commerce, export promotion councils,
enterprises and sectoral bodies.
The Commission also agreed to hold the
15th meeting of the India-Uzbekistan Intergovernmental Commission in India on a
mutually convenient date. The meeting marked a renewed phase in
India-Uzbekistan economic partnership, with a shared focus on trade expansion,
regulatory cooperation, sectoral diversification, connectivity and
implementation.