Uzbekistan has set an ambitious target of increasing pharmaceutical manufacturing output from $620 million last year to $10 billion by 2035, according to Health Minister Abdulla Azizov during an interaction in India. The Central Asian nation is positioning itself as a gateway to the $57-billion CIS pharmaceutical market through free-trade access and international regulatory alignment. The country's pharmaceutical manufacturing sector has expanded rapidly over the past two years, with production rising from $340 million in 2023 to around $620 million last year, reflecting nearly 80 per cent growth driven by export-oriented manufacturing, foreign investment and localisation initiatives.
The push comes as India and Uzbekistan earlier this year launched a structured pharmaceutical and nutraceutical trade corridor aimed at expanding access to the wider Eurasian healthcare market, estimated at $7-10 billion. Azizov said Uzbekistan is looking to leverage India's long-standing expertise in generic drug manufacturing, healthcare products and exports to attract investment into local manufacturing facilities that can serve not only Uzbekistan but also neighbouring CIS markets. "Uzbekistan is not trying only to substitute imports. We want to become a hub for manufacturing and exports for the CIS region," he said, adding that Indian companies could use Uzbekistan as a strategic bridge into Central Asian and Eurasian markets.
To attract investment, Uzbekistan is offering a range of incentives, including 10-year tax exemptions in dedicated pharmaceutical free economic zones, subsidised land, customs duty waivers, infrastructure support and R&D-linked incentives. The government is also providing lower royalty taxes, reimbursement support for international product registrations and subsidies for companies securing European manufacturing certifications. India already accounts for a significant share of Uzbekistan's pharmaceutical imports, a trend the minister said is expected to continue even as localisation increases, with several Indian companies having already invested in Uzbekistan while discussions are underway with others for potential projects.
Azizov said the country is also focusing on nutraceuticals, biotechnology and medical devices as part of its long-term healthcare manufacturing strategy. Uzbekistan is seeking partnerships with Indian companies for joint R&D initiatives, particularly in herbal and nutraceutical products, leveraging its rich biodiversity and large base of medicinal plant species. The minister said Uzbekistan's pharmaceutical industry has expanded sharply in recent years, supported by policy reforms and foreign investment, and the government expects the momentum to continue as more international companies establish manufacturing bases in the country.
