India's Exports to Kuwait Surge by 34.78% in Fiscal Year 2023-24

Key sectors driving this growth include aircraft and spacecraft parts, cereals, and precious and semi-precious stones. Other contributors include imitation jewelry, coins, vehicles (excluding railway or tramway rolling stock), and pharmaceutical products.

Kuwait remains a vital trading partner for India, with a robust economy driven by substantial petroleum resources. The country holds approximately 6% of the world's crude oil reserves and is the fourth-largest economy among the GCC nations.

Total bilateral trade between India and Kuwait reached $10.479 billion in FY 2023-24, with Indian exports comprising $2.1 billion. Kuwait also served as the sixth-largest crude oil supplier to India during this period, meeting about 3% of the country’s energy needs.

Source : www.zawya.com