In June, the Investment Promotion Agency organized a video conference together with representatives of the Embassy of the Republic of Uzbekistan in the Republic of India, the leadership of the Indian jewelry company C. Mansukhlal Jewelers and the Uzbekzargarsanoati Association of Jewelers of Uzbekistan.
The purpose of the meeting was to discuss a project for the production of jewelry and souvenir products in the Khorezm region and the possible participation of a famous Indian brand in it.
Mansukhlal Jewelers is one of India’s leading showrooms that specializes in creating exclusive bridal jewelry.Nodir Mirakhmedov, Deputy Director of the Uzbekzargarsanoati Association
during the conversation, noted that he was familiar with the activities of C. Mansukhlal Jewelers. As part of the Energetic Gujarat Summit in 2019, business negotiations were organized with the aim of establishing further cooperation.
In the continuation of the dialogue, Nodir Mirakhmedov briefly briefed the company representatives on the key changes in the jewelry industry in Uzbekistan, stressing that today the republic is focused on expanding the production of high-quality and competitive jewelry products, including through the active attraction of foreign investment in the industry.
In particular, it is planned to organize cluster production to create jewelry in various regions of the republic, attract world-famous brands for the development of franchising and also hold international thematic exhibitions and sales with the participation of potential investors and interested companies.
In turn, the director of the Indian company, Nayan Ranpura, emphasized that the company has a great interest in developing business in the Uzbek market, including due to its geographical location. This will make it easy to enter the markets of Central Asian countries. In addition, the investment opportunities that Uzbekistan offers today are one of the important reasons for intensifying cooperation with Uzbek representatives. He noted that a visit had been planned for the purpose of familiarization, but was postponed due to the introduction of quarantine. With the opening of the airspace, a delegation from C. Mansukhlal Jewelers plans to visit Uzbekistan.Oybek Elmuratov, Deputy Director of the Investment Promotion Agency, presented the activities of the department, its main goals and objectives. Within the framework of the presentation “Invest in Uzbekistan”, key reforms were announced that are being implemented in Uzbekistan to improve the investment climate. He emphasized that jewelry art in Uzbekistan occupies a special niche and the exchange of experience with Indian specialists would undoubtedly allow us to master new technologies and techniques in jewelry design. The Agency will provide comprehensive support for organizing the visit of the Indian delegation.
At the end of the videoconference, an agreement was reached on the exchange of information regarding existing trading floors, places for production, on the current legislation governing the import and export of goods for foreign investors.
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