5 days ago
Modi to Focus on Critical Minerals and Trade Relations
Prime Minister Narendra Modi will travel to Uzbekistan and Kyrgyzstan for important meetings.
In Uzbekistan, he will meet President Shavkat Mirziyoyev.
They will talk about trade, investment, energy, education and other areas.
They may also work on an agreement about critical minerals.
India and Uzbekistan currently trade about $1.32 billion worth of goods.
In Kyrgyzstan, Modi will meet Russian President Vladimir Putin.
India and Russia want to increase trade, but India currently buys much more from Russia than Russia buys from India.
Their leaders will discuss how to make trade more balanced and reach their shared goal of $100 billion by 2030.
Prime Minister Narendra Modi will visit Tashkent on August 29-30 to discuss trade, investment, defence, energy, digital connectivity and education with Uzbekistan.
India and Uzbekistan may discuss market access, tariffs and a possible agreement on cooperation in critical minerals.
Modi will meet Russian President Vladimir Putin at the Shanghai Cooperation Organisation Summit in Bishkek on August 31 and September 1.
India and Russia will address a trade imbalance that grew as bilateral trade rose from $13 billion in 2021 to $60 billion in 2025.
Modi is expected to highlight security, connectivity and opportunity at the summit and may also meet Chinese President Xi Jinping.
- Who
- Prime Minister Narendra Modi, Russian President Vladimir Putin, Uzbekistan President Shavkat Mirziyoyev and other leaders attending the Shanghai Cooperation Organisation Summit.
- What
- Modi will hold bilateral discussions on trade, investment, critical minerals, security, connectivity and other areas during visits to Uzbekistan and Kyrgyzstan.
- Where
- Tashkent, Uzbekistan, and Bishkek, Kyrgyzstan.
- When
- Modi will visit Tashkent on August 29-30 and attend the summit in Bishkek on August 31 and September 1.
- Why
- The meetings aim to deepen bilateral relations, expand trade and investment, address the India-Russia trade imbalance, and advance cooperation in critical minerals.
Trade Expansion Priorities
Trade Balance Priorities
India-Russia economic relationship
Trade Expansion Priorities
India and Russia are seeking deeper trade relations and a shared target of $100 billion in bilateral trade by 2030.
Trade Balance Priorities
India says addressing the trade imbalance, including through better market access, fewer tariff and non-tariff barriers, stronger payment mechanisms and business engagement, is a foremost priority.
Uzbekistan cooperation
Trade Expansion Priorities
India and Uzbekistan are considering broader cooperation across trade, investment, defence, digital connectivity, energy and education, including critical minerals.
Trade Balance Priorities
The relatively low bilateral trade figure of $1.32 billion highlights the need to improve trade access and address tariff-related issues.
Key facts
- Uzbekistan visit
- Modi will be in Tashkent on August 29-30.
- India-Uzbekistan trade
- Bilateral trade is currently $1.32 billion.
- Potential agreement
- India and Uzbekistan could sign an agreement on cooperation in critical minerals.
- SCO Summit
- The summit will take place in Bishkek on August 31 and September 1.
- India-Russia trade
- Bilateral trade increased from $13 billion in 2021 to $60 billion in 2025.
- Trade imbalance
- The imbalance in Russia's favour grew from $6.6 billion to more than $50 billion.
- Long-term trade goal
- India and Russia aim to reach $100 billion in bilateral trade by 2030.
Quotes
S. Jaishankar
India’s external affairs minister
“Addressing this imbalance is today one of our foremost priorities.”
m.rediff.com
Sources
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