Bilateral trade increased by 33% to $1.3 billion in 2025, while Uzbekistan and India set a target of $5 billion by 2030. The two countries also identified a portfolio of joint projects across energy, critical minerals, healthcare and manufacturing.
Trade between Uzbekistan and India increased by 33% in 2025 to $1.3 billion. Following bilateral talks on 30 August, the two countries set a target of raising annual trade to $5 billion by 2030, establishing a defined medium-term benchmark for commercial cooperation.
A portfolio of key joint investment projects was developed as part of the visit, and specific agreements were reached with several major Indian companies. The official statement did not disclose the value, financing structure or implementation status of individual projects. A comprehensive roadmap is expected to be prepared to support execution of the agreements.
The sector agenda spans energy, critical minerals, healthcare, pharmaceuticals, electronics, mechanical engineering, jewellery and agriculture. This breadth combines Uzbekistan’s industrial and resource base with areas in which Indian companies possess established operating and technological capabilities.
The $5 billion target represents a substantial expansion from the current trade base, but remains a policy objective rather than realised turnover. For investors, the principal indicators to monitor will be the publication of the implementation roadmap, conversion of corporate agreements into financed projects and evidence of higher bilateral trade across the identified sectors.
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