India, Uzbekistan Target $3 Billion Bilateral Trade

India and Uzbekistan have set a target to double bilateral trade to about $3 billion within three years. The target was discussed at the India-Uzbekistan Business Forum in New Delhi on 3 August 2026, along with proposals to explore a Free Trade Agreement and expand cooperation in multiple sectors.

India-Uzbekistan Trade Profile

Bilateral trade between India and Uzbekistan grew by 30% in the previous year and crossed 1.3 billion for the first time. In 2025, bilateral trade stood at 1.32 billion, with Indian exports to Uzbekistan at 1.15 billion and Uzbekistan’s exports to India at more than 164 million. Uzbekistan is a landlocked Central Asian republic and a member of the Commonwealth of Independent States. India and Uzbekistan established diplomatic relations in 1992 after the dissolution of the Soviet Union.

Institutional Mechanisms and Dialogue

The 14th Session of the India-Uzbekistan Intergovernmental Commission was held on 19 June 2026. India’s Commerce Secretary Rajesh Agrawal and Uzbekistan’s Deputy Minister Shokhrukh Gulamov co-chaired the session, where both sides discussed trade expansion and the removal of non-tariff barriers. The India-Uzbekistan Business Forum is a platform for business-to-business engagement, investment discussions, and sectoral cooperation. Free Trade Agreements are trade pacts that reduce or remove tariffs and can also address market access and regulatory barriers.

Priority Sectors for Cooperation

The two sides identified mining, rare earth minerals, renewable energy, pharmaceuticals, medical devices, automobiles, machinery, information technology, digital infrastructure, agriculture, and cotton production for expanded cooperation. Around 400 Indian companies are operating in Uzbekistan, and the joint project pipeline between the two countries has crossed $5 billion.

Important Facts for Exams

• Uzbekistan is one of the two doubly landlocked countries in the world, along with Liechtenstein.
• The capital of Uzbekistan is Tashkent, which also hosts major regional business and diplomatic meetings.
• The India-Uzbekistan Intergovernmental Commission is a bilateral institutional mechanism for economic and trade cooperation.
• Rare earth minerals are used in electronics, magnets, electric vehicles, and renewable energy technologies.

India and Uzbekistan are members of the Shanghai Cooperation Organisation. The two countries also cooperate in connectivity, energy, and regional security frameworks in Central Asia.