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India, Kuwait bilateral trade touches all-time high of USD 12.5 billion
The Business Guardian
|August 25, 2023
Bilateral trade between India and Kuwait has touched an all-time high of USD 12.5 billion, Indian ambassador to Kuwait Adarsh Swaika said, according to Arab News Online.
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Trade between the two countries has seen a 90 percent yearly jump, and while currently it is skewed towards hydrocarbon exports from Kuwait and exports of mainly food products from India, bilateral trade has the potential for diversification, the envoy said.
“There are excellent possibilities in pharmaceuticals and medical devices, automobiles and related spares, electronics goods and components, high-efficiency solar PV modules, textiles and apparel, white goods, ceramics, etc. But the main potential area of cooperation is in the field of investments from Kuwait to India because of the attractive political and financial investment climate that the country provides, the Indian ambassador told Arab News online.
But the main potential area of cooperation is in the field of investments from Kuwait to India because of the attractive political and financial investment climate that the country provides. On May 8, we held a high-visibility investment seminar that presented the New India growth story. We saw much interest from our Kuwaiti partners in investing in India. There are some very positive experiences sharing Kuwaiti investments in India,” he added.
This story is from the August 25, 2023 edition of The Business Guardian.
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