India identifies critical mineral supplies as key area for deeper energy cooperation with Uzbekistan | Today’s news

New Delhi: India has identified the supply of critical minerals as an important area for developing energy cooperation with Uzbekistan, saying the country’s fast-growing digital economy – including growing demand from artificial intelligence (AI), data centers and advanced computing – requires reliable and clean baseload performance.

Base load power refers to the minimum, continuous and stable supply of electricity required 24 hours a day to keep essential systems running.

The issue was discussed at the 14th session of the India-Uzbekistan Intergovernmental Commission on Trade, Economic, Scientific and Technological Cooperation, co-chaired by Commerce Minister Rajesh Agrawal and Uzbekistan’s Deputy Minister of Investment, Industry and Trade Shokhrukh Gulamov.

Energy as an area of ​​strategic cooperation was discussed during the meeting, the government said in a statement. Noting that its fast-growing digital economy requires reliable and clean base-load energy, India identified securing the supply of critical minerals as an important area for advancing India-Uzbekistan energy cooperation.

The two sides also agreed to deepen trade ties, address non-tariff barriers and work to double bilateral trade over the next three years, the statement said.

During the discussions, Agrawal emphasized the need for regular review of non-tariff barriers related to approvals, standards, testing, certification, customs procedures and market access requirements. He said businesses require predictability, regulators need dialogue and standards bodies need direct contact, adding that a time-bound mechanism to address such obstacles would help translate goodwill into concrete business results.

The Commission reviewed the full range of bilateral economic engagements and reaffirmed the strategic nature of India-Uzbekistan relations.

Both sides welcomed the growth of bilateral trade. Uzbekistan has announced that trade turnover with India will reach $1.3 billion in 2025, an increase of 33.3% over the previous year. Uzbekistan’s exports to India were $164.6 million, up 25.4%, while its imports from India reached $1.15 billion, up 34.6%.

India’s exports to Uzbekistan have grown at a compound annual rate of 12.9% over the past decade, while India’s services exports to the Central Asian country are expected to reach $372.2 million in 2024.

The two countries discussed expanding trade in a wide range of sectors, including pharmaceuticals, medical devices, agricultural products, processed food, agricultural machinery, engineering goods, electrical machinery, electronics, smart phones, automobiles and automobile components, tractor accessories, textiles and textile machinery, chemicals, health services, educational services, tourism, logistics and other business services.

Pharmaceuticals were identified as a priority area, with India highlighting its role as the “Pharmacy of the World” and its ability to supply affordable and quality medicines, vaccines and active pharmaceutical ingredients.

Agriculture and allied sectors also featured prominently in the discussions. Both sides recognized India’s capabilities in agricultural and allied exports, processed food, agricultural machinery, seed development, agricultural research and climate-resilient agricultural technologies.

The two sides also discussed information and communication technologies (ICT) and digital cooperation. India has highlighted its capabilities in IT, digital public infrastructure, telecommunications, fintech, cyber security, healthcare services, digital education, engineering consultancy and digital logistics. The Indian side suggested cooperation in exchanging customs data and exploring payment infrastructure connectivity to support tourism, trade and commerce.

Transport and logistics connectivity were also discussed, with both sides recognizing that robust connectivity is essential to unlocking the full economic potential of the relationship. The Uzbek side proposed to share its experience in the field of digital logistics platforms and customs facilitation mechanisms.

Agrawal urged Uzbek businesses to participate more actively in trade fairs, buyer-seller meetings, investment forums and sector events in India. Both sides also agreed to promote closer engagement between chambers of commerce, export promotion councils, businesses and industry bodies.