Tashkent, Uzbekistan (UzDaily.com) -- As part of the visit of a delegation of the Ministry of Foreign Affairs of the Republic of Uzbekistan to India, on 10 May 2022, an overview presentation of the investment and tourism potential of Uzbekistan was held.

The event, organized with the cooperation of the Embassy of the Republic of Uzbekistan in Delhi and the Global India Business Forum, was attended by over 50 prominent representatives of Indian business.

The participants were given the opportunity to learn more about all the favorable conditions that are currently created for foreign investors in Uzbekistan, in particular, about tax incentives, the abolition of duties on the import of industrial equipment, free economic zones, as well as other privileges when investing in the implementation of promising projects.

The active dynamics of expanding the presence of Indian companies in almost all sectors of the economy of Uzbekistan was noted. Currently, there are about 350 enterprises with Indian capital in Uzbekistan, including 220 enterprises with 100% capital.

This, despite the difficult situation with the global pandemic, ensures the steady growth of bilateral trade and the expansion of investment cooperation. So, at the end of 2021, the volume of trade between Uzbekistan and India reached US$490 million, demonstrating an increase of 10.3%.

Also, the rich tourism potential of Uzbekistan was presented to the participants. The Indian side, in particular, showed great interest in organizing special tours to Surkhandarya region, where there are objects of Buddhist historical heritage.

During the event, for the first time in the history of bilateral relations, the India-Uzbekistan Business and Culture Council online platform was launched, developed by the Global India Business Forum with the direct assistance of the Embassy of Uzbekistan in India. The platform is an information hub about the prospects for doing business in Uzbekistan, where all the necessary information (projects, legal framework, etc.) will be available for interested Indian partners.