Uzbekistan invites Indian firms for mining, minerals push ahead of PM Modi's visit
Uzbekistan invited Indian companies to invest in its mining, metallurgy, and critical minerals sector, highlighting opportunities in gold, copper, uranium, and rare earth elements.
The invitation was extended at an India-Uzbekistan Business Forum held in New Delhi, addressed by Uzbekistan's Minister of Investment, Industry and Trade to more than 200 business representatives, alongside India's Union Commerce and Industry Minister.
Uzbekistan stated it ranks among the top ten countries globally for gold, copper and uranium reserves and holds deposits of nearly all categories of critical minerals and rare earth elements.
Both sides set a target of reaching USD 2 billion in bilateral trade within the next year, building on a reported 30% year-on-year growth that took two-way trade past USD 1.3 billion for the first time.
The push comes ahead of a prospective high-level visit, positioning mining and critical minerals as a priority pillar of the India-Uzbekistan Comprehensive Strategic Partnership.
India's Critical Minerals Push — National Critical Mineral Mission and MMDR Amendment
Critical minerals are those essential for economic development and national security whose supply chains are vulnerable to disruption — including rare earth elements, lithium, cobalt, nickel, and graphite, vital for clean energy, electronics, and defence manufacturing. India notified a list of 24 critical and strategic minerals under Part D of the First Schedule of the Mines and Minerals (Development and Regulation) Act, 1957, via the MMDR Amendment Act, 2023 (in force from 17 August 2023), which also empowered the Central Government to auction mining leases and composite licences for these minerals, and introduced Exploration Licences for deep-seated and critical mineral exploration. The National Critical Mineral Mission (NCMM), approved in 2025, backs this with an outlay of roughly Rs 16,300 crore to reduce import dependence through domestic exploration and overseas asset acquisition.
Key Details
- 24 critical minerals notified under Part D, First Schedule, MMDR Act 1957 (via 2023 amendment).
- MMDR Amendment Act, 2023: in force from 17 August 2023; Central Government auctions leases/licences for these minerals.
- National Critical Mineral Mission: approved 2025, outlay approximately Rs 16,300 crore, Geological Survey of India tasked with roughly 1,200 exploration projects (2024-25 to 2030-31).
Uzbekistan's invitation to Indian firms for gold, copper, uranium and rare earths investment directly supports India's NCMM strategy of securing overseas critical mineral assets to reduce import dependence, extending the "ally-shoring" approach seen earlier with lithium/cobalt exploration agreements in countries such as Argentina and Australia.
India-Central Asia Connectivity: INSTC and the Chabahar Route
Uzbekistan is a doubly landlocked country, making transport corridors central to its trade diplomacy. The International North-South Transport Corridor (INSTC), a multi-modal India-Russia-Iran initiative established in 2000, links India to Central Asia via Iran's Chabahar Port, bypassing Pakistan. A trilateral India-Iran-Uzbekistan working group on Chabahar-linked connectivity has existed since 2020, and India has used the INSTC's eastern route to move cargo toward Kazakhstan and onward Central Asian markets, cutting transit times significantly compared with traditional sea routes via Europe.
Key Details
- INSTC established 2000 by India, Russia and Iran; extended to include Central Asian states.
- Chabahar Port (Iran) is the maritime gateway for the INSTC's southern leg into Central Asia, bypassing Pakistan.
- Trilateral India-Iran-Uzbekistan working group on Chabahar cooperation formed in 2020.
Any expansion of Indian mining investment in Uzbekistan depends on functioning logistics corridors to move machinery in and minerals out; the INSTC-Chabahar route is the principal enabler of overland India-Uzbekistan trade given the absence of a direct sea link, making connectivity infrastructure a testable companion topic to the investment story.
Shanghai Cooperation Organisation (SCO) and India-Central Asia Multilateral Engagement
The SCO is a Eurasian political, economic and security bloc founded in 2001 in Shanghai, evolving from the earlier "Shanghai Five" grouping. It currently comprises ten full members — China, Russia, India, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Iran, and Belarus — with India and Pakistan admitted as full members in 2017. The SCO Energy Club (established 2013) is a key mechanism linking energy-producing Central Asian states like Uzbekistan and Kazakhstan with consumer states like India and China, providing an institutional layer above bilateral deals for resource cooperation.
Key Details
- SCO founded 2001 (Shanghai); full members: China, Russia, India, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Iran, Belarus (10 total).
- India and Pakistan granted full membership in 2017.
- SCO Energy Club established 2013 to coordinate energy-resource cooperation among members.
The bilateral mining push sits within the broader multilateral SCO framework, through which India engages Central Asian resource-rich states like Uzbekistan on energy and critical-mineral security alongside its direct bilateral investment diplomacy.
- Bilateral trade target: USD 2 billion within the next year; current trade crossed USD 1.3 billion, up around 30% year-on-year.
- Minerals highlighted: gold, copper, uranium, critical minerals, rare earth elements.
- Uzbekistan's global ranking: top 10 in gold, copper and uranium reserves (as stated by Uzbek officials).
- India's critical minerals list: 24 minerals under Part D, First Schedule, MMDR Act 1957 (2023 amendment, in force 17 August 2023).
- National Critical Mineral Mission outlay: approximately Rs 16,300 crore (approved 2025).
- SCO membership: 10 full members, including India (since 2017) and Uzbekistan.
- INSTC established: 2000, by India, Russia and Iran.