Finance Minister Nirmala Sitharaman Meets Uzbekistan Leaders to Boost Trade and Investment
Finance Minister Nirmala Sitharaman, currently in Uzbekistan, met with Deputy Prime Minister and Minister of Investment and Foreign Trade, Jamshid Khodjaev, ahead of the 9th Annual Meeting of the Board of Governors of AIIB in Samarkand. They discussed strategic partnerships in IT, education, digital connectivity, renewable energy, civil applications of nuclear energy, healthcare, ayurvedic medicine, and pharmaceuticals.
Sitharaman highlighted the growth of India’s digital payments ecosystem and proposed collaboration between Uzbek and Indian fintech firms to develop innovative products. They also discussed potential investment opportunities in IFSC Gift City. Khodjaev assured long-term cooperation with India to enhance trade and business opportunities.
Earlier, Sitharaman met with Uzbekistan Trade Minister Laziz Kudratov in Samarkand to discuss mutual interests in renewable energy, fertilizers, and pharmaceuticals, aiming to strengthen economic relations between the two countries.
Sitharaman is on a five-day official visit to Uzbekistan and will attend the Ninth Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) in Samarkand. She will also hold bilateral meetings with leaders from Uzbekistan, Qatar, China, and the AIIB President. India is the second-largest shareholder of the bank, and the discussions will cover a broad spectrum of global issues relevant to the development agenda.
Doubts Revealed
Finance Minister -: The Finance Minister is a person in the government who is in charge of money matters, like how the country earns and spends money.
Nirmala Sitharaman -: Nirmala Sitharaman is the current Finance Minister of India. She helps make decisions about India’s money and economy.
Uzbekistan -: Uzbekistan is a country in Central Asia. It is far from India and has its own leaders and government.
Deputy Prime Minister -: The Deputy Prime Minister is a high-ranking official in the government, just below the Prime Minister. They help run the country.
Samarkand -: Samarkand is a famous city in Uzbekistan. It is known for its beautiful buildings and history.
IT -: IT stands for Information Technology. It involves using computers and the internet to store, share, and process information.
Digital connectivity -: Digital connectivity means how well people and devices can connect to the internet and communicate with each other.
Renewable energy -: Renewable energy comes from natural sources like the sun, wind, and water. It is better for the environment than using coal or oil.
Fintech -: Fintech stands for Financial Technology. It means using technology to improve financial services like banking and payments.
AIIB -: AIIB stands for Asian Infrastructure Investment Bank. It is a bank that helps countries in Asia build things like roads, schools, and hospitals.
Board of Governors -: The Board of Governors is a group of important people who make big decisions for an organization like the AIIB.
Bilateral meetings -: Bilateral meetings are talks between two countries. Leaders discuss how they can work together and solve problems.
