India’s Finance Minister, Nirmala Sitharaman, met with the Trade Minister of Uzbekistan, Laziz Kudratov, in Samarkand to discuss important topics like renewable energy and the Unified Payments Interface (UPI). This meeting took place during a special gathering in Samarkand, Uzbekistan.
During their discussion, both countries focused on how to increase collaboration in the renewable energy sector. Renewable energy refers to energy from natural resources, like the sun, wind, or water, which can be restocked constantly.
Uzbekistan is looking to improve its renewable energy production, and India has much experience in this area. The two countries can share knowledge and technology to use cleaner energy and reduce pollution by working together.
The two leaders acknowledged the successful conclusion of the Bilateral Investment Treaty (BIT) between India and Uzbekistan. They agreed that the signing of the BIT would increase investor confidence in each other’s markets.
Another important topic was UPI, a digital payment system that has become very popular in India. UPI allows people to make quick, easy, and secure payments using their phones.
Uzbekistan is interested in learning from India’s success with UPI, as this system could help improve digital payments in their own country. If Uzbekistan adopts UPI, it could make money transfers and payments much faster and more efficient for people there.
The meeting between the two ministers shows that India and Uzbekistan are interested in building stronger partnerships, especially in areas that will help both countries grow in the future.
Renewable energy and digital finance could lead to new opportunities for trade and technology exchange between the nations.
- Source: https://energy.economictimes.indiatimes.com/news/renewable/nirmala-sitharaman-discusses-renewable-energy-upi-with-uzbekistan-trade-minister-in-samarkand/113648477?utm_source=top_news&utm_medium=sectionListing
- https://aninews.in/news/world/asia/nirmala-sitharaman-discusses-renewable-energy-upi-with-uzbekistan-trade-minister-in-samarkand20240925025513/