Kuwait, Jun 14: Indo-Kuwait two-way trade is expected to triple by 2010, with the visit of the Emir of Kuwait to India, starting June 14, says a paper prepared on Indo-Kuwait two-way trade by Associated Chambers of Commerce & Industry of India (Assocham). The prospects are expected to reach $3,200 million by 2010 from the current $1,000 million, the paper reports.
The paper, to be released on Friday when the Emir addresses the Indian industry, says present Indo-Kuwait trade imbalances will almost be equalised, and will not favour either country as India’s crude & petroleum products dependence on Kuwait will grow with better bilateral relations.
At present, the trade between India and Kuwait is stagnant at $1,000 million, of which Indian exports to Kuwait are estimated at about $650 million against India’s imports of around $350 mllion.
Commenting on the paper, Assocham chief Anil K Agarwal said, India’s main items of exports to Kuwait are rice, meat and meat products, tea, coffee, fresh fruit and vegetables, handicrafts, gems and jewellery, textiles, engineering goods and transport equipment, ready made garments and cement.