Uzbekistan is positioning itself as a regional pharmaceutical manufacturing hub by offering enhanced subsidies and technology transfer incentives to attract Indian pharmaceutical companies. According to Deputy Minister of Investment, Industry and Trade Shokhrukh Gulamov, the country could adopt policies that simplify regulatory approvals and strengthen investment incentives. As reported by PTI, streamlined licensing procedures, reduced bureaucratic barriers, and predictable regulatory timelines would make local production more attractive to Indian investors. Integrating local production with regional distribution networks and export programs would enhance profitability and reduce dependence on imports, he emphasized.
The country is planning to provide tax incentives and subsidies for technology transfer, industrial cluster participation, and export-oriented production to encourage greater investment. According to Gulamov's statements to PTI, access to well-equipped industrial zones and joint ventures with local partners can accelerate production capacity while ensuring compliance with quality standards. Protection of intellectual property and long-term policy stability are essential for high-value pharmaceutical investments, he emphasized. Such reforms would support Indian companies in producing essential medicines domestically, improve local healthcare access, and simultaneously strengthen Uzbekistan's role as a regional hub for pharmaceutical supply.
The economic relationship between India and Uzbekistan has shown remarkable growth, with total bilateral trade reaching $1.317 billion in 2025, representing a 33.3% increase over 2024. As reported by PTI, exports stood at $164.6 million (25.4% increase) while imports reached $1.153 billion (34.6% rise). In early 2026, trade volume was $300 million, demonstrating continued momentum despite seasonal fluctuations. The partnership benefits from 117 signed bilateral agreements, including a Strategic Partnership Declaration (2011) and a recent Investment Protection Agreement (September 2024), alongside functioning mechanisms like the Intergovernmental Joint Commission and the Uzbekistan-India Business Council.
Indian investment in Uzbekistan has grown rapidly, with $292.9 million in direct investments realized in 2025. According to Gulamov's statements, by May 2026, 397 Indian-invested enterprises operate in Uzbekistan, including 311 joint ventures. The partnership benefits from 117 signed bilateral agreements, including a Strategic Partnership Declaration (2011) and a recent Investment Protection Agreement (September 2024). Freight volumes increased by 51.2% in 2025 with expanded air links, supporting deeper integration across multiple sectors including transport, pharmaceuticals, engineering, and IT.
