India-Kuwait Bilateral Trade

India-Kuwait relations are traditionally warm, close and friendly and our community of over 8.2 lakh is the largest expatriate community in Kuwait.  During 2013-14, Kuwait was the third largest crude oil supplier to India, meeting 9-10% of our energy needs. India has consistently been among the top ten trading partners of Kuwait. However, India’s exports to Kuwait have remained stagnant, i.e., a little over US$ 1 billion.  Furthermore, investments from Kuwait into India are miniscule. The Table given below shows the bilateral trade.  The trade balance is heavily in favour of Kuwait.

India-Kuwait Bilateral Trade FY 20011-12 to 2014-15(April-Feb)

in US$ million

	2011-12	2012-13	2013-14	2014-15 (April-Feb)
Indian exports to Kuwait	1,181.41	1,061.08	1,065.14	1,082.88
Indian imports from Kuwait	16,439.64	16,588.13	17,153.52	12,620.15
Total	17,621.05	17,649.21	18,218.66	13,703.03
Trade Balance	(-)1515,258.23	(-)15,527.05	(-)16,088.38	(-)11,537.27

Source: Department of Commerce, M/o Commerce & Industry, New Delhi

Various Export Promotion Councils and Chambers of Commerce and Industry in India (FICCI, CII, FIEO etc.) are working to increase India’s exports, the Kuwait Embassy provides 5-year and 1-year multiple entry Business visas to all Kuwaiti nationals and other expatriates residing in Kuwait the same day.  

Ambassador Sunil Jain has met Kuwaiti authorities and discussed ways to improve trade and investment between the two countries and has written a letter to the members of Indian Business Council, Kuwait urging them to work towards increasing greater exports from India to Kuwait as well as greater investments from Kuwait to India.   

Posted on 7th June 2015.