India, Uzbekistan Sign 11 Agreements; Target Long-Term Uranium Supply Pact And USD 5 Bn Trade by 2030

New Delhi, Aug 31 (KNN) India and Uzbekistan have elevated their bilateral relationship to a Comprehensive Strategic Partnership and set a target of increasing annual trade to USD 5 billion by 2030, following talks between Prime Minister Modi and Uzbek President Shavkat Mirziyoyev in Tashkent on Sunday.

The two leaders discussed expanding cooperation across trade, investment, infrastructure, critical minerals, mining, defence, healthcare, pharmaceuticals, information technology, digital public infrastructure and education.

Long-Term Uranium Supply Agreement

Civil nuclear cooperation emerged as a new area of economic engagement, with the two sides agreeing to establish a long-term arrangement for uranium supplies from Uzbekistan to India.

“We will also establish a long-term arrangement for the supply of uranium. Today, we are formalising three sister-city and sister-state arrangements. We should create a roadmap to fully realise their potential,” PM Modi said during the talks with President Mirziyoyev.

He stressed the need for a roadmap to fully utilise the potential of the expanding bilateral partnership, including stronger cooperation in critical minerals and other strategic sectors.

Trade Target Set at USD 5 Billion

Bilateral trade currently stands at more than USD 1 billion, and the two countries have set a target of USD 5 billion by 2030. They also agreed to hold a Business Summit to deepen trade and investment ties.

To strengthen institutional engagement, the two sides decided to establish a foreign ministers-led mechanism and upgrade the Inter-Governmental Commission to the ministerial level.

11 MoUs And Agreements Signed

India and Uzbekistan exchanged 11 agreements and memorandum of understanding (MoU) covering geology and mineral resources, tourism, environmental protection, higher education and research, economic and financial cooperation, Ayurveda, culture, archives, diplomatic training, Buddhist heritage conservation, and a partnership between Gujarat and Uzbekistan’s Samarkand region. 

A Letter of Intent was also signed for the conservation and restoration of the ancient Buddhist sites of Fayaz Tepa and Kara Tepa in Termez.

Environment and People-to-People Ties

India announced a USD 1 million grant for environmental rehabilitation and afforestation efforts in Uzbekistan's Aral Sea region, linking the initiative with Uzbekistan's ‘Yashil Makon’ and India's ‘Ek Ped Maa Ke Naam’ campaigns.

The two sides also announced 100 Lal Bahadur Shastri Scholarships for Uzbek students to study Hindi and agreed to establish an ICCR Sanskrit Chair at Tashkent State University of Oriental Studies.

In the digital payments space, NPCI International Payments Ltd (NIPL) and Uzbekistan's National Interbank Processing Centre agreed to enable Indian UPI applications to scan the country's UZQR codes for merchant payments.

(KNN Bureau)