World Trade Center Mumbai hosted a meeting with Sardor Rustambaev, Ambassador of Uzbekistan to India to discuss emerging areas of economic cooperation between both the countries and strategies to deepen bilateral partnership across various sectors.
On this occasion, Ambassador Rustambaev mentioned, "Uzbekistan is a strategic partner of India and we have friendly diplomatic and political relations. Last year, the number of weekly flights between India and Uzbekistan has grown three-fold to 18 and by March 2025 it will grow to 24. The objective of my visit is to strengthen bilateral economic relations especially with Maharashtra in next generation sectors such as quantum technologies, semiconductors, electronics and also in manufacturing. Uzbekistan is emerging as an attractive investment destination and one of the largest industrial hubs in the CIS region. Our government is willing to offer land, support infrastructure, tax benefits and cheap power to Indian companies bringing technology, skilled labour and capital to our country. Uzbekistan can be a gateway for Indian companies to the 300 million consumer market of the CIS region, with which it has a trade agreement."
The Ambassador informed that Uzbekistan has preferential market access to Europe under GSP regime and it has signed preferential trade agreement with the USA. Uzbekistan has 24 Industrial Economic Zones, especially in pharmaceuticals and other manufacturing sectors, including IT parks. "We invite Indian companies, startups and IT companies to invest in these economic zones and also in other parts of the country. Indian companies can bring capital equipment and technology. Our government will provide land, cheap power, tax and duty-free benefits to Indian and foreign investors. Already, Indian companies have invested in pharmaceuticals, renewable energy, logistics, education and other sectors in Uzbekistan."
The Ambassador pointed out that in the last 10 years, industrial landscape of Uzbekistan has transformed significantly. He said, "Uzbekistan needs Indian technology and skills for further development of the industrial ecosystem. The country is the leading manufacturer of home appliances, including air conditioners. Uzbekistan has emerged as a leading automobile and auto-component manufacturing hub in the CIS region. More than 20 automobile brands from South Korea, China and other countries have set up production facilities for tyres, plastics, accumulators and other auto-components. Uzbekistan also has an electric vehicle manufacturing ecosystem as we produce and supply power trains to Brazil and other countries.
