Tashkent [Uzbekistan], April 15 (ANI): Indian industries are eyeing Uzbekistan as a strategic hub, with Reliance Industries in talks on major investment initiatives, signalling deepening economic ties between the two countries.

Recently, Prasad Panda, CEO of Reliance Industries, held high-level talks with Shokhrukh Gulyamov, Uzbekistan's Deputy Minister of Investment, Industry, and Trade. The meeting marked a major step toward bilateral cooperation in telecommunications, digital infrastructure, mining and energy.

According to an official statement by the Ministry of Investment, Industry and Trade of Uzbekistan, the talks focused on 'the deployment and management of large-scale telecommunications networks, as well as the development of Uzbekistan's digital infrastructure.'

Panda and Gulyamov discussed introducing next-generation technologies to boost high-speed communication and data transmission, supporting the country's digital transformation.

'The meeting explored the potential for implementing innovative projects in the management of large telecommunications networks, the development of digital infrastructure, and the introduction of high-speed communication and data transmission technologies in Uzbekistan,' the statement said.

The discussions also extended into the mining and energy sectors, seen as areas of strong mutual interest. 'Special attention was given to new projects in the mining and energy sectors of the economy,' the ministry added.

Both sides emphasised the importance of a long-term partnership focused on innovation, infrastructure, and sustainable resource use. They agreed to establish an 'active cooperation mechanism' to move forward with collaborative projects.

Reliance's interest reflects growing confidence in Uzbekistan's investment climate and aligns with the country's strategy to attract high-tech foreign investment and modernize critical infrastructure.

According to Statista, Uzbekistan's Communication Services market is expected to generate around USD 895.2 million in revenue in 2025, with mobile data contributing approximately USD 441.5 million. The market is projected to grow at a compound annual growth rate of 3.02 per cent, reaching nearly USD 1 billion by 2029.

Meanwhile, Uzbekistan's energy sector is undergoing significant reforms aimed at improving efficiency, attracting private investment, and ensuring energy security. Historically reliant on state-owned monopolies and subsidized fossil fuels, the country is now diversifying its energy mix.

The government has committed to generating 25 per cent of electricity from renewable sources, tapping into vast solar and wind potential. Energy officials stress that expanding renewable capacity is key to reducing emissions and building long-term resilience.

As reforms progress, Uzbekistan's partnership with global players like Reliance Industries could accelerate its transition toward a more sustainable, high-tech future. (ANI)