India, Uzbekistan Elevate Ties To Comprehensive Strategic Partnership, Set $5 Billion Trade Target By 2030

India and Uzbekistan announced on Sunday the advancement of their relationship to a Comprehensive Strategic Partnership, alongside a shared goal of achieving $5 billion in annual bilateral trade by 2030. This development followed discussions between Prime Minister Narendra Modi and Uzbek President Shavkat Mirziyoyev. The leaders also unveiled plans to establish a framework for consistent uranium supply from Uzbekistan to India within the civil nuclear energy sector.

The Modmi-Mirziyoyev meetings centered on deepening cooperation in trade, investment, infrastructure, critical minerals, mining, defense and security, agriculture, pharmaceuticals, health, information technology, digital public infrastructure including UPI, and education. The current bilateral trade between the nations amounts to over $1 billion.

Modmi highlighted Uzbekistan's strategic importance for India, stating that a stronger partnership in the region would contribute to peace, progress, and prosperity in Central Asia.

Modi outlined future cooperation areas, including the co-development and co-production of military hardware and addressing market access, banking, payment systems, and connectivity issues. Both nations agreed on a Letter of Intent to restore and conserve the Buddhist sites of Fayaz Tepa and Kara Tepa in Uzbekistan, which are crucial historical monuments along the Silk Road.

The Prime Minister stated that the visit aimed to elevate ties in trade, investment, defense, and clean energy, marking the 15th anniversary of their strategic partnership.