Team Blitz India
KUWAIT CITY: Indian Ambassador to Kuwait Adarsh Swaika on August 24 said that bilateral trade between India and Kuwait has reached an all-time high of $12.5 billion.
The envoy said that trade between the two countries has witnessed a growth of 90 per cent annually and is currently tilted towards hydrocarbon exports from Kuwait and mainly food products from India, adding that there is scope for diversification in bilateral trade.
”There is excellent potential in pharmaceuticals and medical devices, automobiles and related parts, electronics accessories and components, high-efficiency solar PV modules, textiles and apparel, white goods, ceramics, etc. But the main potential area of cooperation lies in this area,” the Indian Ambassador said.
He also said that the investments from Kuwait to India are on the rise because of the attractive political and financial investment climate available in the country.