ECONOMIC AND COMMERCIAL COOPERATION BETWEEN INDIA AND KUWAIT
Extraordinary and Plenipotentiary Diplomatist|July 2021
India and Kuwait have shared a harmonious and cordial relationship since pre-independence days. The two nations have engaged in beneficial exchanges in diverse fields, ranging from economic cooperation to energy sharing.
PRIYASHA CHOUDHARY
ECONOMIC AND COMMERCIAL COOPERATION BETWEEN INDIA AND KUWAIT

Introduction

This partnership had been in existence even when Kuwait and India were conjoined as constituents of the British empire with a highly lucrative trade flourishing between them. (Kuwait-India Relations: A Flourishing Friendship That Has Withstood the Test of Time - The Financial Express, 2021) While the relationship turned bitter temporarily during the Gulf Crisis, New Delhi’s attempts to strengthen ties post the crisis proved to be fruitful. Kuwait has always been a crucial partner and a key strategic location to India due to its natural endowments in terms of its oil reserves, its pearl diving and seafaring heritage, and its strategic location at the northern end of the Arabian Gulf as an important trading port and so on. (Ibid) Apart from their historical affinity both the nations share a strong mutual resolve for cultural harmony, profitable mutual trade, democratic values and religious tolerance. Both India and Kuwait are aware of their trade potential and economic value thereby enhancing their partnership for mutual dividends. Additionally, the year 2020-21 marks the 60th anniversary of the establishment of diplomatic relations between two countries. India has been a natural trading partner of Kuwait and until 1961 Indian Rupee was the legal tender in Kuwait. (India- Kuwait Bilateral Relations, 2021)

Economic and Commercial Relations

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