As reported earlier, President of Uzbekistan Islam Karimov paid a state visit to India on 17-18 May 2011.

During the visit, several documents aimed at major expansion in economic and investment cooperation in the sphere of fuel energy, information technology, textiles, pharmaceuticals, banking and trade were signed.

They include the implementation of more than 30 projects, including those aimed at the joint prospecting, exploration and production of hydrocarbons with Oil and Natural Gas Corporation, leading company in India, the production of fiber-optic cable in Navoi, a number of projects on production of substances and various drugs, etc.

The leading large textile companies of India signed agreements on deep processing of cotton, silk and leather raw material for the production and sale of finished products. In the field of information and communication technology projects, the production of smart phones, tablet PCs and Internet set-top boxes, as well as power sources based on solar-hybrid technology were agreed. The signed documents envisage a number of projects in the chemical industry.

National Bank of Uzbekistan jointly with the Export-Import Bank of India signed an agreement for a credit line on the long-term concessional terms. Agreement was reached for long-term supplies of mineral fertilizers and other strategic goods.