On December 24-28, at the invitation of “Uztuqimachiliksanoat” (Uzbekistan Textile Industry) Association, the delegation of the Republic of India led by the CEO of Rimtex Idustries K.G.Parmar visits Uzbekistan.
During the visit, a meeting was held with the leadership of “Uztuqimachiliksanoat” Association, during which implementation of a project on production of import-substituting textile equipment was discussed.
The parties discussed the timing of implementation and location of the new enterprise. In addition, the possibility of expanding exports to the CIS markets was discussed.
As reported by the Press Service of “Uztuqimachiliksanoat” Association, following the negotiations, an agreement was reached on registration of a foreign enterprise and starting the project on production of import-substituting products, in particular textile machine components.
According to preliminary data, the import of this equipment to Uzbekistan amounts to 3.0 million USD per year. Introduction of new production is scheduled for the second quarter of 2019 in FEZ Angren.
