India-Uzbekistan deepen strategic ties, agree on $5 billion trade target and uranium supply framework

PM Narendra Modi being conferred with Uzbekistan’s prestigious Oliy Darajali Do’stlik by Uzbekistan President Shavkat Mirziyoyev. PIC/PTI

India and Uzbekistan on Sunday decided to elevate their ties to a comprehensive strategic partnership and set a target of $5 billion in annual trade by 2030, following talks between Prime Minister Narendra Modi and Uzbek President Shavkat Mirziyoyev.

The two sides also agreed to establish a framework for long-term supply of Uranium from Uzbekistan to India in line with cooperation in the civil-nuclear energy sector.

The Modi-Mirziyoyev talks focused on expanding cooperation in areas of trade, investment, infrastructure, critical minerals, mining, defence and security, agriculture, pharmaceuticals, health, information technology, digital public infrastructure, including UPI, and education.

The two sides also set a target of $5 billion in annual bilateral trade by 2030, Modi said in his press statement. The current volume of bilateral trade between the two nations is over $1 billion.

Both leaders announced the elevation of strategic ties to a Comprehensive Strategic Partnership - reflecting the growing depth and expanding scope of cooperation between India and Uzbekistan.

They witnessed the exchange of several agreements, covering a wide range of areas, including mining, culture, education, tourism and ayurveda, among others.

"Uzbekistan is at the heart of Central Asia and is at the heart of India's engagement in the region," Modi said.

The prime minister added: "A stronger India-Uzbekistan partnership will be a powerful force for peace, progress and prosperity in Central Asia."

Mirziyoyev also conferred Modi with Uzbekistan's highest honour "Oliy Darajali Do'stlik" Order, which he dedicated to the "enduring" bond between India and Uzbekistan.

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