Uzbekistan is offering Indian companies land, tax benefits, and affordable power to attract investment across various sectors. Speaking at an event hosted by the World Trade Center (WTC) Mumbai, H.E. Mr. Sardar Rustambaev, Ambassador of Uzbekistan to India, shared plans to deepen economic cooperation.
The Ambassador highlighted Uzbekistan’s strategic position as an investment destination in the Commonwealth of Independent States (CIS) region. “Uzbekistan provides Indian businesses preferential market access to Europe, the United States, and the 300-million-consumer CIS market,” he said. He also emphasised the country’s 24 Industrial Economic Zones and growing infrastructure.
Indian companies have already invested in pharmaceuticals, renewable energy, logistics, and education in Uzbekistan. Mr. Rustambaev encouraged further collaboration in advanced technologies, semiconductors, manufacturing, and gems and jewellery. “Indian firms can enjoy duty-free advantages, skilled labour, and a supportive business environment,” he added.
Dr. Vijay Kalantri, Chairman of WTC Mumbai, called for stronger ties in manufacturing, green energy, and creative industries. He noted that bilateral trade, currently $470 million, has the potential to double within two years. Leaders from India’s gems and diamonds sector also expressed interest in Uzbekistan’s resources and opportunities.
Tourism and education are other key areas of collaboration. The number of Indian visitors to Uzbekistan is expected to exceed 100,000 this year. More than 10,000 Indian students are already pursuing higher education in the country.
Mr. Rustambaev held meetings with Indian business leaders, including representatives from the Hinduja Group, Reliance Industries, and Bollywood. These discussions explored opportunities in trade, investment, and film production.
The event showcased Uzbekistan’s commitment to strengthening ties with India. Hon’ble Prime Minister Narendra Modi is expected to visit Uzbekistan later this year, marking a new chapter in bilateral relations.
