Tashkent, Uzbekistan (UzDaily.com) -- As part of the visit of the government delegation of Uzbekistan to India, an Uzbek-Indian business forum was held in Delhi. 

The delegation headed by the Ministry of Investments and Foreign Trade included Uzcharmsanoat Association and its enterprises. Negotiations were held with the Ministry of Trade and Industry of the Republic of India, more than 50 representatives of the business community, the Central Leather Research Institute (CLIR-Central Leather Research Institute), the Council of Indian Leather Exporters (CLE-Council For Leather Exports), as well as with the leather shoe companies in India.

At the opening ceremony of the forum, it was noted that over the past five years, relations between Uzbekistan and India have reached a qualitatively new level.

In particular, the volume of trade between the two countries has increased by 50 percent over the past five years. The positive trend continues to grow. In the first half of 2022, mutual trade increased by almost 30% and amounted to more than US$324.5 million. 

The effectiveness of the reforms being implemented in Uzbekistan to support business activity and create a favorable investment environment was noted. In particular, since 2017, the number of enterprises with the participation of Indian capital operating in Uzbekistan has increased by almost 5 times. In 2021 alone, about seventy enterprises started operating, and their total number reached 357. Currently, more than 80 joint projects worth more than US$3 billion are being implemented in various industries.

Thus, effective cooperative relations with Indian companies have been established in the leather and footwear and fur and fur industries of our country. The business forum held served as a convenient business platform for further expanding these relations and actively attracting investments from Indian entrepreneurs to our republic.

As part of the business forum, negotiations were held with the Central Leather Research Institute (CLIR-Central Leather Research Institute). Preliminary agreements were reached, a decision was made to open a branch of the institute in Tashkent. The institution will work in Uzbekistan in the areas of introducing modern leather processing technologies, training specialists and supporting the industry, developing policies and activities in the leather and footwear industry that will provide a competitive advantage based on high technologies. The final discussion of this cooperation will take place within the framework of the 13th International Exhibition-Fair UzCharmExpo-2022, which will be held in Tashkent on 12-14 October 2022, and an agreement on this issue will be signed here. The amount of investments involved in the implementation of this project is 500 thousand dollars.

Also, within the framework of the forum, a memorandum of cooperation was signed with the Council of Leather Exporters of India (CLE-Council For Leather Exports). On the basis of this document, large companies and business representatives of India, producing leather and finished products with high added value from India, will begin to implement joint investment projects in our country. 

Cooperative relations will be established to organize the export of finished products from Uzbekistan to Russia and European countries. Marketing research will be organized on the export of semi-finished and finished leather products from Uzbekistan to India and the establishment of exports of products. The issue of developing convenient logistics routes for the export of products from Uzbekistan will be worked out. During the dialogue, an agreement was reached on the participation of the Council of Indian Leather Exporters, together with more than 15 Indian companies, in the 13th International Exhibition and Fair UzCharmExpo-2022, which will be held on 12-14 October 2022. Within its framework, specific investment projects and export agreements will be discussed with Uzbek entrepreneurs.

As part of the business forum, the delegation of the Uzcharmsanoat Association reached an agreement with DISCOVERY LEATHERS LTD on organizing a joint project for the production of leather shoes and clothing in Uzbekistan. The total cost of the project is US$3 million.

LEATHER APPARELS LTD is implementing a US$1.5 million leather apparel project.

MEET PRIVATE LIMITED is implementing a project for the production of finished leather and leather goods in Uzbekistan worth US$2 million. Export will be carried out to European countries.

SAROJ INTERNATIONAL GROUP OF COMPANIES, RANVIK EXPORTS PVT. LTD., SIDDHARTH EXPORTS, MODE RETAILS SALES AND MARKETING PVT. Ltd. made proposals for negotiating with Uzbek entrepreneurs on export and investment agreements at the autumn UzCharmExpo-2022.

In general, this business forum served as an effective platform for attracting additional investments from Indian companies in the leather and footwear and fur industry of Uzbekistan, as well as for concluding profitable contracts for the export of finished and semi-finished products produced in our country to the markets of India, Russia and Europe.