Energy discussed as an area of strategic cooperation in Tashkent
Uzbekistan’s trade turnover with India reached US$1.3 billion in 2025, a growth of 33.3% over the previous year, it was disclosed at the 14th Session of the India-Uzbekistan Intergovernmental Commission on Trade, Economic, Scientific and Technological Cooperation in Tashkent.
Uzbekistan’s exports to India stood at US$164.6 million a growth of 25.4%, while its imports from India reached US$1.15 billion, an increase 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, according to the Ministry of Commerce and Industry.
Rajesh Agrawal, Secretary, Department of Commerce, co-chaired the video conference meeting with Shokhrukh Gulamov, Deputy Minister of Investment, Industry and Trade of the Republic of Uzbekistan.
The meeting 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 Indian Government’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,” the Ministry said on 19 June.
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.
Agrawal informed 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.
They 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. Fiinews.com
