ENA Global 2025-01-16 14:04:14 <p><span style="font-size:14px"><strong>Mumbai, Jan 16 (KNN)</strong> Uzbekistan's Ambassador to India, H.E. Sardar Rustambaev, outlined ambitious plans to strengthen bilateral economic cooperation during his recent visit to the World Trade Centre Mumbai.</span></p> <p><span style="font-size:14px">He highlighted that the country offers attractive incentives, including land allocation, infrastructure support, tax benefits, and competitive power rates.</span></p> <p><span style="font-size:14px">Uzbekistan's industrial landscape presents compelling opportunities for Indian investors, with 24 Industrial Economic Zones specialising in pharmaceuticals and manufacturing, along with IT parks.</span></p> <p><span style="font-size:14px">The Ambassador mentioned Uzbekistan's strategic advantage as a gateway to the 300-million-strong CIS market, bolstered by preferential trade agreements with Europe under the GSP regime and the United States.</span></p> <p><span style="font-size:14px">The Ambassador particularly emphasised opportunities in next-generation sectors, including quantum technologies, semiconductors, and electronics manufacturing.</span></p> <p><span style="font-size:14px">The country has made significant strides in automobile manufacturing, emerging as a key hub in the CIS region with over 20 international brands establishing production facilities.</span></p> <p><span style="font-size:14px">The Ambassador also emphasised Uzbekistan's strong position in gold production and traditional jewellery craftsmanship, inviting Indian gems and jewellery companies to bring their technical expertise and establish manufacturing facilities.</span></p> <p><span style="font-size:14px">During his Mumbai visit, Ambassador Rustambaev engaged with prominent Indian industry leaders, including representatives from the Hinduja Group, Reliance Industries, and The Indian Hotels Company Limited.</span></p> <p><span style="font-size:14px">The ambassador's meeting with Maharashtra Governor C.P. Radhakrishnan further emphasised the focus on strengthening regional economic ties.</span></p> <p><span style="font-size:14px">Current bilateral trade stands at USD 470 million, with potential to double within two years, according to Dr. Vijay Kalantri, Chairman, WTC Mumbai.</span></p> <p><span style="font-size:14px">The relationship is expected to strengthen further with the Indian Prime Minister's planned visit to Uzbekistan later this year, marking his fourth visit during his tenure.</span></p> <p><span style="font-size:14px">Despite being landlocked, Uzbekistan's accessibility through Chabahar Port and Bandar Abbas positions it as a strategic partner for Indian businesses looking to expand into the CIS region, Iran, and Europe.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 40665 https://knnindia.co.in/news/newsdetails/global/uzbekistan-offers-attractive-incentives-for-indian-investors-seeks-collaboration-in-tech-and-manufacturing 2025-01-16 14:04:14 knnindia.co.in