PM Modi Receives Guard of Honor During Historic Kuwait Visit, Boosts India's Global Prestige
Kuwait City (The Uttam Hindu): Prime Minister Narendra Modi highlighted the longstanding and natural trade partnership between India and Kuwait, emphasizing the strong people-to-people connections that have fostered a special friendship over the centuries. Speaking in an interview with the Kuwait News Agency (KUNA), PM Modi noted that trade and commerce have been pivotal to the bilateral relationship, with two-way trade on the rise.
"Trade and commerce are vital pillars of our bilateral relationship. Our trade has seen significant growth, and our energy partnership adds unique value to this relationship," PM Modi said to KUNA Director General Fatma Al-Salem. On Saturday, PM Modi arrived in Kuwait, marking the first visit by an Indian Prime Minister to the Gulf nation in 43 years. Kuwait is a key partner for India, ranking as the sixth-largest supplier of crude oil and fulfilling 3% of India's energy requirements. Bilateral trade between the two nations reached approximately ₹86,000 crore in 2023-24, with Indian exports growing by 34.7% year-on-year. The Kuwait Investment Authority (KIA) has further strengthened financial ties by investing over ₹83,000 crore in India, showcasing its confidence in the Indian economy.
PM Modi noted a growing interest from Kuwaiti investors in India, reflecting the country's increasing attractiveness as an investment destination. India's trade with Gulf Cooperation Council (GCC) countries, which includes Kuwait, Bahrain, Oman, Qatar, Saudi Arabia, and the UAE, stood at a robust ₹15.15 lakh crore in 2022-23. PM Modi expressed satisfaction with the growing presence of "Made in India" products in Kuwait, especially in the automobile, electrical, mechanical machinery, and telecom sectors. "India today is manufacturing world-class products at the most affordable cost. Diversification into non-oil trade is crucial for further enhancing bilateral trade," PM Modi said. With Kuwait currently chairing the GCC, PM Modi's visit is expected to strengthen India's engagement with the influential bloc and further deepen ties across multiple sectors.
