India’s key partner in Central Asia – Uzbekistan – has been maintaining stable economic growth and the re-election of President Shavkat Mirziyoyev has provided tremendous opportunities for prospective Indian investors in the resource rich country.
Several sectors in Uzbekistan are open to foreign investments and India is one of the sought after partners. Regular flights between Delhi and Tashkent could further contribute to growth momentum of the Uzbek economy. Political stability of Uzbekistan coupled with predictable policies could be point of attraction for Indian investors.
India and Uzbekistan signed a Joint Statement in September 2019 to set up a joint feasibility study for entering into negotiations for a Preferential Trade Agreement (PTA). It is hoped that PTA could be signed soon and that would open up India’s entry into Kyrgyzstan as well as Tajikistan. Notable Indian investments in Uzbekistanby Indian companies include those in the field of pharmaceuticals, amusement parks, automobile components, and hospitality industry.
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