India, Uzbekistan target $5 billion trade by 2030, move to cut barriers
Bilateral trade stood at $1.3 billion in 2025 as the two sides seek to expand market access, investment and cooperation in critical minerals
India and Uzbekistan have agreed to target $5 billion in bilateral trade by 2030, as Prime Minister Narendra Modi and Uzbekistan President Shavkat Mirziyoyev discussed deepening economic ties during Modi's state visit. The two countries aim to broaden the range of traded goods, remove non-tariff barriers, and address investment hurdles through the creation of a joint working group.
They also plan to establish a business summit and explore the Uzbekistan-India Preferential Trade Agreement. Both sides identified electrical items, engineering products, automobiles, and pharmaceuticals as sectors with significant potential for increased trade.
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