This article covers trade and investment between India and Uzbekistan: trade figures, the main goods traded, Indian investment in Uzbekistan, the Bilateral Investment Treaty, and the Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation. It is based on the MEA brief of April 2026, and figures are given as of that brief.
Trade figures
According to the MEA brief of April 2026, India is among the top 10 trade partners of Uzbekistan, with bilateral trade of USD 1.32 billion. It describes the level of trade as well below potential.
Main goods traded
The brief lists the major items of India's exports to Uzbekistan as:
- pharmaceutical products
- mechanical equipment
- vehicle parts
- services
- frozen buffalo meat
- optical instruments and equipment
- mobile phones
India's imports from Uzbekistan consist largely of:
- fruit and vegetable products
- services
- fertilisers
- juice products and extracts
- lubricants
Figures from the Uzbek Ministry of Investment and Foreign Trade
The brief reproduces figures released by the Uzbek Ministry of Investment and Foreign Trade for Uzbekistan's trade with India. They are given in US$ million, in rows labelled Export, Import and Total Trade:
- 2020: Export 423; Import 19.70; Total Trade 442.60
- 2021: Export 460.60; Import 29.90; Total Trade 490.50
- 2022: Export 654.90; Import 35.60; Total Trade 690.50
- 2023: Export 648.50; Import 108.10; Total Trade 756.60
- 2024: Export 853.6; Import 126.80; Total Trade 980.40
- 2025: Export 1153.1; Import 164.6; Total Trade 1317.7
Readers should not infer a direction of trade from these rows without checking the original source.
Indian investment in Uzbekistan
As of the brief, total Indian investments in Uzbekistan amount to US$ 451 million (approx). Investments by Indian companies include pharmaceuticals, healthcare, education and residential building. The Indian universities that operate in Uzbekistan are described in the culture and education article of this guide.
Bilateral Investment Treaty
India's Finance Minister participated in the 9th Annual Meeting of the Asian Infrastructure Investment Bank (AIIB) in Uzbekistan in September 2024. During the visit she held meetings with President Mirziyoyev and with:
- Mr. Jamshid Khodjayev, Deputy Prime Minister and Minister of Investment and Foreign Trade
- Mr. Djamshid Kuchkarov, Deputy Prime Minister and Minister of Economy and Finance
- Mr. Laziz Kudratov, Minister of Investments, Industry and Trade
She also took part in the Uzbekistan-India Business Forum, on the sidelines of which the Bilateral Investment Treaty was signed.
Intergovernmental Commission
The 13th meeting of the Uzbek-India Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation was held in New Delhi on 28 July 2022. It was co-chaired by the Minister of Commerce and Industry of India, Shri Piyush Goyal, and the Deputy Prime Minister and Minister of Investment and Foreign Trade of Uzbekistan, Mr. Jamshid Khodjaev.
At the meeting, the two sides agreed to hold a meeting of India-Central Asia Ministers of Transport. Its purpose would be to develop mechanisms for logistics infrastructure, a regional network of multimodal transport corridors, and increased direct and transit cargo transportation as part of the North-South initiative.
Regional business links
Business links also form part of the India-Central Asia framework described in the relations article of this guide, which includes a Central Asia Business Council. At the third Voice of Global South Summit in August 2024, Uzbekistan was represented in the Ministerial session on Trade by H. E. Mr Gulamov Shokhrukh, Acting Deputy Minister of Investment, Industry and Trade.
Notes on the figures
The trade figures come from two sources: the headline figure of USD 1.32 billion, for which the brief gives no source or year, and the table of the Uzbek Ministry of Investment and Foreign Trade.