World Trade Center Mumbai recently hosted H.E. Mr. Sardar Rustambaev, Ambassador of Uzbekistan to India, to discuss emerging economic cooperation and strategies to deepen the India-Uzbekistan bilateral partnership across various sectors.
Key Highlights of the Discussion:
Growing Air Connectivity: Weekly flights between India and Uzbekistan have tripled to 18 and will further increase to 24 by March 2025.
Next-Gen Investment Opportunities: Uzbekistan is focusing on quantum technologies, semiconductors, electronics, and manufacturing, making it an attractive hub for Indian businesses.
Industrial & Economic Zones: The country offers 24 Industrial Economic Zones, including IT parks, pharmaceuticals, and manufacturing hubs, with preferential access to European and U.S. markets.
Lucrative Incentives for Indian Companies: The Uzbek government is providing land, infrastructure support, tax benefits, and affordable power to Indian investors bringing technology, skilled labor, and capital.
A Gateway to CIS Markets: With a 300-million consumer base and trade agreements across the region, Uzbekistan presents a unique business expansion opportunity for Indian enterprises.
Expanding Trade & Industrial Ties
The Ambassador highlighted Uzbekistan’s rapid industrial transformation, positioning itself as a leading hub for home appliances, automobiles, and electric vehicles. Indian gems & jewelry, textiles, pharmaceuticals, and logistics companies have already made significant investments in the country.
Strengthening Bilateral Relations
H.E. Mr. Rustambaev engaged with top Indian industrialists, including leaders from Reliance Industries, Hinduja Group, IHCL, Gold Star Diamonds, and Sonani Group. Discussions also extended to Bollywood collaborations with industry stalwarts like Boney Kapoor, Hema Malini, and Mithun Chakraborty, promoting film production and distribution.
A Promising Future for India-Uzbekistan Cooperation
With Hon’ble Prime Minister of India scheduled to visit Uzbekistan later this year, the bilateral relationship is set to reach new heights, fostering economic collaboration in manufacturing, green energy, tourism, creative industries, and food security.
India and Uzbekistan share a strategic, diplomatic, and economic partnership, and this engagement marks a significant step toward unlocking new investment opportunities for Indian businesses in Central Asia and beyond.
