India’s trade with Kuwait has experienced significant growth, with Indian exports to the Gulf nation reaching an impressive USD 2.10 billion in the fiscal year 2023-24. This marks a 34.78% increase compared to the USD 1.56 billion recorded in the previous fiscal year, according to data from the Ministry of Commerce and Industry.

Several sectors have contributed to this robust growth. Leading the charge are exports of aircraft and spacecraft parts, which have seen significant demand in Kuwait. Other sectors that have shown strong performance include cereals and precious and semi-precious stones.

Additionally, India has seen a rise in exports of imitation jewelry, coins, vehicles (excluding railway or tramway rolling stock), and pharmaceutical products, which have played a vital role in boosting the total export value to Kuwait.

This growth underscores the strong and growing trade relations between India and Kuwait. Both nations have historically enjoyed a mutually beneficial trade relationship, with Kuwait serving as an important trading partner for India, especially due to its petroleum-based economy.

According to the latest OPEC data, Kuwait holds 101.5 billion barrels of crude oil reserves, which is about 6% of the world's total reserves. Furthermore, Kuwait has proven natural gas reserves amounting to 1,784 billion cubic meters (or approximately 63 trillion cubic feet), making it a key player in the global energy sector.

India’s strong export growth reflects the increasing economic integration between the two countries and is expected to open more opportunities for bilateral trade expansion in the future.

India’s trade with Kuwait continues to show a positive trend, driven by strong export sectors and robust economic cooperation. As both nations continue to strengthen their trade relations, more opportunities are likely to emerge, further enhancing the economic partnership between India and Kuwait.