Uzbek-Indian business forum organized
Today, on October 21, 2020, the Chamber of Commerce and Industry of Uzbekistan and the Federation of Chambers of Commerce and Industry of India (FICCI) organized an Uzbek-Indian business forum in an online format.
The event was attended by: Chairman of the Chamber of Commerce and Industry of Uzbekistan A. Ikramov, co-chairman of the Uzbek-Indian business forum, ex-President of the women's organization of the Federation of Chambers of Commerce and Industry of India (FICCI Ladies Organization) Ms Harzhiner Kaur Talwar, Ambassador Extraordinary and Plenipotentiary of the Republic of India in Uzbekistan, Mr. M. Prabhat, Ambassador Extraordinary and Plenipotentiary of the Republic of Uzbekistan to the Republic of India, Mr. D. Akhatov, Chairman of the Association of Exporters of Uzbekistan M. Umarov, as well as representatives of business circles of the two countries.
At the beginning of the forum, Ms. Harzhiner Kaur Talvar made an opening speech, where she noted that today's joint event would create additional opportunities for the development of mutually beneficial and long-term relations between business representatives of Uzbekistan and India.
She also mentioned that economic cooperation is undoubtedly one of the priority areas of cooperation between our countries.
Then the Chairman of the Chamber of Commerce and Industry of Uzbekistan A. Ikramov made a speech, where he first of all expressed his sincere gratitude to the Federation of Indian Chambers of Commerce and Ambassadors of both countries for their efforts to develop bilateral economic cooperation and support small and medium businesses. Also, the Uzbek side noted that Uzbekistan attaches great importance to strengthening the centuries-old friendship and strategic partnership between the countries.
During the forum, the participants got acquainted with promising areas of mutually beneficial cooperation, including the implementation of joint projects in trade and investment areas.
One of the leading and promising areas of bilateral cooperation remains the healthcare and pharmaceutical sectors, in which Indian companies now occupy the most active positions in Uzbekistan. In particular, the following projects have been implemented in Uzbekistan:
- the foundation was laid for a pharmaceutical plant with the Kadila Pharmaceuticals ($ 50 million);
- the University of Sharda (ICT, engineering, business) was open and successfully functioning;
- the Amity University and the Techno-Park of Software Products and Information Technologies were opened.
It is also worth noting that the priority is to provide comprehensive support to entrepreneurs, in particular, to create favorable conditions for international trade, to attract investments and foreign partners to make business in Uzbekistan.
For information: In January-August 2020, the volume of mutual trade with India amounted to $ 198.4 million, including exports - $ 8.0 million, imports - $ 190.3 million.
Nowadays 277 enterprises with the participation of Indian capital operate in Uzbekistan, of which 175 are individual entrepreneurs and 102 joint ventures.