India Kuwait bilateral trade agreement: Prime Minister Narendra Modi arrived in Kuwait on Saturday for a landmark two-day state visit, marking the first visit by an Indian Prime Minister to the Gulf nation since Indira Gandhi’s trip in 1981. The visit, at the invitation of Kuwaiti Emir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, aims to strengthen bilateral ties and establish a future-focused partnership between the two nations.
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Key Highlights:
- First prime ministerial visit to Kuwait in 43 years
- Bilateral trade valued at USD 10.47 billion in FY 2023-24
- Kuwait is India’s sixth-largest crude supplier
- Indian community forms largest expatriate group in Kuwait (1 million)
During his visit, PM Modi will:
- Hold high-level discussions with Kuwait’s leadership
- Interact with the vibrant Indian diaspora
- Attend the opening ceremony of the 26th Arabian Gulf Cup
Strategic Importance:
Kuwait has emerged as a crucial partner for India, with bilateral trade reaching significant milestones:
- Indian exports to Kuwait crossed USD 2 billion for the first time
- Kuwait Investment Authority’s investments in India exceed USD 10 billion
- Kuwait supplies 3% of India’s energy needs
The Indian Presence:
The Indian community plays a vital role in Kuwait’s development:
- Constitutes 21% of Kuwait’s total population
- Forms 30% of the workforce (approximately 900,000)
- Dominates both private sector and domestic sector employment
“We deeply value the historical connection with Kuwait that has been nurtured over generations,” PM Modi stated in his departure statement. “We are not just strong trade and energy partners but also have shared interest in peace, security, stability and prosperity in the West Asia region.”
The visit is expected to strengthen the traditionally friendly relations between India and Kuwait, which date back to pre-oil Kuwait when maritime trade with India was the backbone of its economy. This diplomatic engagement marks a significant step in reinforcing India’s strategic partnerships in the Gulf region.
