The Kuwait Chamber of Commerce and Industry (KCCI) reaffirmed its strong economic ties with India, noting that non-oil trade between the two nations surpassed $2 billion in 2022.
According to a KCCI press release, this affirmation occurred during a meeting with an Indian economic delegation led by Israr Ahmad, president of the Federation of Indian Exports Organization (FIEO), which included representatives from 30 Indian companies in the food and agriculture sectors.
The meeting was also attended by Indian Ambassador to Kuwait, Dr. Adarsh Swaika, along with representatives from various Kuwaiti firms and the Public Authority for Food and Nutrition, KUNA reported.
The Chamber emphasized that the relationship between Kuwait and India extends beyond simple business alliances, rooted in a long history of bilateral cooperation.
Trade growth
In its statement, the Chamber underscored the significance of food security and acknowledged the contributions of Kuwaiti companies to this vital area. It stressed the importance of encouraging these businesses by offering suitable investment opportunities to enhance Kuwait’s food security framework.
Israr Ahmad noted Kuwait’s role as a crucial trading partner for India, emphasizing that collaborative efforts with the Indian government to foster a favorable business environment have led to a 7-percent increase in trade between the two nations in 2023.
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Strengthening bilateral ties
Indian Ambassador Dr. Adarsh Swaika expressed his satisfaction with the Indian delegation’s presence in Kuwait, highlighting the shared commitment to strengthening existing bilateral ties. He mentioned that the leadership in both countries supports the continued development of their historic and strategic relationships.
Swaika also invited Kuwaiti entrepreneurs to visit India to explore various investment opportunities.
Additionally, during the visit, an exhibition showcasing Indian products was inaugurated at the Chamber’s headquarters. This two-day event aims to display a diverse range of Indian products and facilitate partnerships, particularly in the food and agriculture sectors.
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