$ 5 million US investment for Uzbek silk by Indian investors

On March 9, 2022, Ajay Anand, CEO of "FAZE Three Limeted", a world-renowned manufacturer and seller of silk and cotton fabrics, and his son Vishnu Anandlar met with Bahrom Sharipov, chairman of the Uzbekpaksanoat Association.

The meeting canvassed the avails of privileges and preferences created by the government in the silk industry in Uzbekistan, issues of cooperation with “Andijon Silk Co” in Andijan region, mutually beneficial terms between the two parties. Investors also visited the association's silk and wool products showroom and got answers to all their questions.

“Uzbekistan is the world's third largest cocoon producer and exporter after China and India. However, cocoon production in China has dwindled recently, which is due to the cost of labor there. In Uzbekistan, due to the great emphasis paid to this area, a number of benefits provided by the government, the cost of production is lower than in China.

This has led to a proliferation in exports of silk products, which are in demand in more than 150 countries. In the long run, we intend to further boost this capacity and intensify the export potential in cooperation with investors like you”, said the chairman of the association Bahrom Sharipov.

At the end of the meeting, investors announced their alacrity to invest $ 2.5 million US for the export of silk carpets and $ 2.5 million US for silk blankets and pillows (50,000 pieces). Soon, an agreement with foreign partners will be signed.