Piyush Goyal Invites Indian and Uzbek Businesses to Co-invest and Co-manufacture;

Union Minister of Commerce and Industry Shri Piyush Goyal today invited businesses from India and Uzbekistan to co-invest, co-manufacture and co-innovate, while calling for concerted efforts to double bilateral trade between the two countries over the next three years. Addressing the India-Uzbekistan Business Forum in New Delhi, the Minister said the strategic partnership between the two countries, founded on mutual trust, respect and a shared vision for prosperity, offers tremendous opportunities for expanding trade, investment and economic cooperation.

Welcoming the delegation, Shri Goyal said India and Uzbekistan are bound not only by a rich shared history and deep cultural connect, but also by immense business potential that remains largely untapped. He observed that while bilateral trade has crossed approximately USD 1.5 billion, it represents only a fraction of what the two economies can achieve together.

The Minister said India offers Uzbekistan not only a large and growing market but also a reliable partner, a skilled and youthful workforce and a platform for innovation-led growth. Referring to the recently concluded Bilateral Investment Treaty between India and Uzbekistan, he said the agreement would enhance investor confidence and encourage businesses from both countries to invest in each other’s economies and build long-term partnerships.

The Minister concluded by welcoming the visiting delegation and reaffirming India’s commitment to deepening the India-Uzbekistan economic partnership through stronger trade, investment and business collaboration. (UPDATED ON 3RD AUGUST 2026)