In a significant step toward strengthening India–Uzbekistan economic relations, Dr. Rashmi Saluja, Chairperson of the Global Trade & Technology Council India (GTTCI), along with Mr. Shubham Gupta, Director – GTTCI, held strategic engagements in Uzbekistan from 21st–25th January 2026. Guided by H.E. Mr. Sardor Rustambaev, Ambassador of Uzbekistan, the delegation explored opportunities across healthcare, infrastructure, energy, natural resources, hospitality, and finance.
These engagements marked an important milestone in expanding opportunities for Indian businesses in Central Asia while reinforcing Uzbekistan’s role as a strategic gateway to the Commonwealth of Independent States (CIS). The discussions reflected a shared commitment to long-term cooperation, innovation, and sustainable economic growth between the two nations.Strengthening Financial Cooperation with A key highlight of the visit was the engagement with Orient Finance Bank, led by Chairman Mr. Babur Parpiev. Discussions focused on enabling Indian businesses to operate in Uzbekistan through structured financial services and investment facilitation.
One of the major proposals included expanding Orient Finance Bank’s presence into India, aimed at strengthening financial connectivity and simplifying cross-border investments. Routing investments through the bank is expected to create a transparent pathway for capital movement, boosting investor confidence and encouraging sustained financial engagement.
Additionally, discussions surrounding the potential acquisition of Crowne Plaza, Tashkent, highlighted promising opportunities in Uzbekistan’s rapidly expanding hospitality sector, driven by increasing tourism and infrastructure development.
Infrastructure Development and the Vision of New TashkentInfrastructure development emerged as a central theme, particularly during discussions with Renaissance Group Chairman Mr. Rufat Jabbarov. The dialogue emphasized attracting Indian investments into large-scale projects and positioning Indian companies as partners in Uzbekistan’s modernization.
A major focus was the ambitious “New Tashkent” project, launched in March 2023 under a Master Plan extending through 2045. Strategically located between the Chirchik and Korasuv rivers, the project spans approximately 20,000 hectares and is designed to ease pressure on the existing capital while introducing advanced urban planning solutions.
Upon completion, New Tashkent is expected to accommodate nearly 2 million residents and generate approximately 200,000 high-income jobs. The initiative offers significant opportunities for Indian developers, infrastructure firms, and technology providers in smart city solutions, digital infrastructure, and sustainable urban development.
Expanding Pharmaceutical Opportunities through Pharma Park, Tashkent
Pharmaceutical collaboration was another major area of focus, with the delegation exploring opportunities at the Pharma Park in Tashkent. Indian pharmaceutical companies, known globally for producing affordable and high-quality medicines, are well-positioned to support Uzbekistan’s healthcare modernization efforts.
The Pharma Park is envisioned as a hub for pharmaceutical manufacturing, research, and distribution. Participation would allow Indian firms to leverage Uzbekistan’s strategic location to access markets across Central Asia and the broader CIS region, while supporting Uzbekistan’s vision of strengthening domestic healthcare capacity and improving access to quality medicines.
High-Level Engagement with the Ministry of Investment
A key engagement involved calling upon Mr. Laziz Kudratov, Minister of Investment, in New Delhi at the residence of the GTTCI Chairperson to discuss cooperation across healthcare, infrastructure, energy, natural resources, hospitality, and finance.
The meeting brought together prominent leaders and industry stakeholders including Mr. Sanjay Kaushik, Global Advisor – Investment & Hospitality – GTTCI, Mr. Nirmal Singh, Stalwart of the Real Estate Industry, H.E. Mr. Sardor Rustambaev, Ambassador of Uzbekistan to India, Dr. Murli Manohar Joshi, Former Party President – BJP and Former Minister of HRD and Science & Technology, Dr. Rashmi Saluja, Chairperson – GTTCI, Ms. Saloni Goel, Senior Director ESG Value Creation and Commercialization, Coca Cola, Mr. Ajay Choudhary, Chairman – Ace Builders, and Mr. Shubham Gupta, Director – GTTCI.
The discussions highlighted Uzbekistan’s investor-friendly policies and regulatory frameworks designed to encourage long-term foreign investment. Both sides emphasized enabling Indian companies to explore Uzbekistan’s evolving economic landscape and contribute to its sustained growth, reinforcing the commitment to deeper bilateral cooperation.
Building Indian Presence in TIIF through GTTCI
Another significant outcome was the discussion on strengthening Indian participation in the Tashkent International Investment Forum (TIIF) ecosystem through GTTCI. Enhancing Indian involvement in TIIF initiatives is expected to expand India’s economic footprint in Uzbekistan while fostering joint ventures, investment collaborations, and knowledge exchange across sectors.