India, Uzbekistan elevate strategic relationship, target $5 billion trade by 2030
India and Uzbekistan have elevated their ties to a comprehensive strategic partnership, setting an ambitious target of $5 billion in annual trade by 2030. During PM Modi's visit, 11 agreements were signed, focusing on critical minerals, mining, defence, tourism, and digital public infrastructure, including UPI. A framework for long-term supply of Uranium from Uzbekistan to India was also established, aligning with civil nuclear energy cooperation. Both nations emphasized co-development and co-production in defence industries and committed to addressing terrorism and extremism. The visit also included an agreement for the restoration of Buddhist sites, reflecting a deepening engagement in Central Asia.
Key Points
- India and Uzbekistan elevated their bilateral ties to a Comprehensive Strategic Partnership.
- They set a target of $5 billion in annual trade by 2030 and signed 11 agreements across various sectors.
- A framework was established for long-term supply of Uranium from Uzbekistan to India for civil nuclear energy cooperation.
- Both countries agreed to promote co-development and co-production in defence industries and combat terrorism.
- A commercial pact was firmed up for UPI-UZQR payments, expanding digital connectivity.
Exam Facts
- India and Uzbekistan elevated ties to a Comprehensive Strategic Partnership.
- Target of $5 billion in annual trade by 2030.
- 11 agreements signed during PM Modi's visit.
- Commercial pact between NPCI International Payments Ltd (NIPL) and Uzbekistan's National Interbank Processing Centre JSC for UPI-UZQR payments.
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