Uzbekistan seeks Indian investment in fintech, AI
Uzbekistan has created a business-friendly environment with targeted incentives for fintech, AI, and digital infrastructure companies, including those from India, Deputy Minister of Investment, Industry and Trade Shokhrukh Gulamov has said.
Government policies supporting special economic zones, joint ventures, and digital infrastructure investments further enhance Uzbekistan’s appeal, he told media in an interview.
By leveraging these advantages, Indian firms can diversify outsourcing operations beyond traditional South Asian centres, optimise cost structures, and access a talent pool capable of supporting high-value services, he said.
This positions Uzbekistan as a strategic base for regional tech expansion and enhances bilateral economic engagement, he said.
“Uzbekistan provides targeted incentives for fintech, AI, and digital infrastructure firms. These include preferential tax regimes, access to special economic zones with ready digital infrastructure, and regulatory support for pilot projects,” he said.
The Government encourages public-private partnerships in financial services, e-governance, and smart city initiatives, creating opportunities for Indian firms to implement AI and fintech solutions, he said.
These measures, aligned with the country’s broader digital transformation agenda, aim to attract innovation-driven investment. Indian companies benefit from streamlined licensing, investment protection frameworks, and potential collaboration with local institutions, enabling them to scale operations quickly.
By entering Uzbekistan, fintech and AI firms can participate in building regional digital infrastructure, expand their service offerings, and contribute to a growing technology ecosystem that links domestic growth with regional market access.
Speaking about the growing trade partnership between India and Uzbekistan, Gulamov said, economic relations between the two countries have been expanding steadily, underpinned by a strong legal and institutional framework.
As of 2025, total bilateral trade reached $1.317 billion, a 33.30 per cent increase over 2024, with exports at $164.6 million (25.4 per cent increase over 2024) and imports at $1.153 billion (34.6 per cent rise over 2024).
In early 2026, he said, the trade volume was $300 million, demonstrating continued momentum despite seasonal fluctuations.
The partnership benefits from 117 signed bilateral agreements, including a Strategic Partnership Declaration (2011) and a recent Investment Protection Agreement (September 2024), alongside functioning mechanisms like the InterGovernmental Joint Commission and the Uzbekistan-India Business Council, which actively coordinates trade and investment projects, he said.
Indian investment is rising rapidly: in 2025, $292.9 million in direct investments were realised, and by May 2026, as many as 397 Indian-invested enterprises operate in Uzbekistan, including 311 joint ventures, he said.
Trade and investment growth is complemented by improved connectivity, with increased freight volumes (51.2 per cent rise in 2025) and expanded air links, supporting deeper integration across transport, pharmaceuticals, engineering, and IT sectors, he added.
