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Uzbekistan woos Indian fintech, AI firms with tax breaks
Uzbekistan has offered targeted incentives for Indian fintech, artificial intelligence, and digital infrastructure companies, Deputy Minister of Investment, Industry and Trade Shokhrukh Gulamov said. The incentives include preferential tax regimes, access to special economic zones with ready digital infrastructure, and regulatory support for pilot projects.
Gulamov said Uzbekistan is encouraging public-private partnerships in financial services, e-governance, and smart city projects, opening opportunities for Indian firms to deploy AI and fintech solutions. Indian companies also benefit from streamlined licensing procedures, investment protection frameworks, and collaboration opportunities with local institutions.
Bilateral trade between India and Uzbekistan reached $1.317 billion in 2025, a 33.3% increase over 2024. Indian direct investments in Uzbekistan stood at $292.9 million in 2025, and 397 Indian-invested enterprises, including 311 joint ventures, were operating in the country by May 2026.
Indian Opinion Analysis
Uzbekistan's pitch comes as Indian tech firms look to diversify outsourcing beyond traditional hubs like the Philippines and Eastern Europe. The Central Asian country offers lower operational costs and a young, educated workforce. A key advantage is the bilateral Investment Protection Agreement signed in September 2024, which reduces risk for Indian investors. The 117 bilateral agreements already in place, including the 2011 Strategic Partnership Declaration, provide a strong institutional framework. Watch for whether Indian fintech unicorns or IT services majors announce pilot projects in Tashkent's special economic zones in the coming quarters.
Source: millenniumpost.in
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