India’s trade with Kuwait has seen remarkable growth, with Indian exports to the Gulf nation reaching an impressive USD 2.10 billion in the fiscal year 2023-24, according to official data from the Ministry of Commerce and Industry.

This represents a significant increase of 34.78% compared to the USD 1.56 billion reported in the previous fiscal year, highlighting a robust trade relationship between the two countries.

Key sectors driving this export growth include aircraft and spacecraft parts, cereals, and a variety of precious and semi-precious stones. Additionally, exports of imitation jewelry, coins, vehicles (excluding railway or tramway rolling stock), and pharmaceutical products have also contributed to this strong performance.

Kuwait’s economy, largely driven by its substantial petroleum resources, continues to be a major trading partner for India. The country has estimated crude oil reserves of 101.5 billion barrels, accounting for about 6% of the world’s total reserves, and proven natural gas reserves of 1,784 billion cubic meters (approximately 63 trillion cubic feet), according to the latest OPEC data.