India’s Commerce and Industry Minister Piyush Goyal on Thursday held a virtual meeting with Kuwait’s Minister of Commerce and Industry, Osama Khaled Boodai, where both leaders discussed ways to strengthen bilateral trade ties. Sharing details on X, Goyal described the interaction as productive, noting that they exchanged ideas on boosting trade and enhancing cooperation across key sectors.

India and Kuwait share long-standing and cordial relations rooted in historical ties. India has traditionally been a natural trading partner for Kuwait, and prior to 1961, the Indian Rupee was used as legal tender there. Before the rise of the oil economy, Kuwait’s trade was driven by maritime activities such as shipbuilding, pearl diving, fishing, and trade voyages to India, where goods like dates, pearls, and Arabian horses were exchanged for wood, textiles, cereals, and spices.

Tensions in the Gulf have escalated despite a recently announced two-week ceasefire between Iran and the United States. Several countries in the region reported missile and drone attacks. Kuwait stated that its air defence systems intercepted multiple Iranian drones launched in the morning, with its Defence Ministry confirming that 28 drones were neutralized. Some of these drones reportedly targeted critical oil and power infrastructure in southern Kuwait. The Interior Ministry also reported significant material damage to key facilities, including those of the Kuwait Petroleum Corporation and the ministries overseeing energy and water resources.

India continues to be one of Kuwait’s major trading partners, while Kuwait remains a dependable supplier of crude oil and LPG to India. In the financial year 2024–25, Kuwait ranked as India’s sixth-largest supplier of crude oil and fifth-largest supplier of LPG, contributing around 3.5% to the country’s overall energy requirements.