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India - Kuwait Business and Cultural Council

Kuwait is a small, wealthy country in the Middle East, bordered by Iraq and Saudi Arabia. Known for its oil reserves, it has a prosperous economy. The capital city is Kuwait City, and Arabic is the official language.

Ambassador and Consul General

The Consul General of the Embassy of Kuwait Mansour Saad Alolaimi and First Secretary Khaled Mohammed Al Mutairat accepted the Honorary Membership of Global India Business Forum, in the presence of Global President of GIBF, Dr. Jitendra Joshi and Co-Founder & Director - Global Operations, Deepali Gadkari. Realizing Strengths of Global India Business Forum and Consulate the Embassy of Kuwait and conscious of the benefits to be derived by both organizations and its members through this mutual understanding, both parties will be associated with each other in mutual cooperation to facilitate mutual investment, trade and economic cooperation complimented by knowledge sharing, training, certification and networking.

embassy-of-kuwait-ambassador-and-consul-general

Oil, Shipments of crude, Refined oil, Cyclic Hydrocarbons, Petroleum gas

Machinery, Mechanical appliances, Electrical equipment, Transport equipment, Metal base

About Kuwait

Kuwait, officially known as the State of Kuwait, is a country situated in Western Asia. Its actual location is in the Northern edge of Eastern Arabia at the tip of the Persian Gulf. Kuwait also shares its borders with Iraq and Saudi Arabia. It shares its sea borders with Iran. The current population of Kuwait is around 42,70,571 and the expatriates (people leaving their native country for employment or other purposes) account for almost 70% of the total population of Kuwait. In fact, expatriates dominate the population in Kuwait. Kuwait is known for its large oil reserves as these were discovered in large and commercial quantities way back in 1938. It was the first time in the year 1946 that crude oil was exported for the first time. Kuwait is a non-NATO ally of the USA and is also a major ally of the ASEAN and also maintains a strong relationship with China. Kuwait is a constitutional sovereign state and has a semi-democratic political system. Also, the country is a high-income economy according to the World Bank. Moreover, the Kuwaiti Dinar (the country’s currency) is the strongest currency in the world. Kuwait also has the largest opera house in the Middle East. The official language of Kuwait is Arabic.

Business Opportunities in Kuwait

The most famous natural resource that Kuwait has at its disposal and is quite famous for is crude oil. Almost the entire country is dependent on this resource for its survival. Hence, the countries which are interested in investing in crude oil and the mining sector of the country have tonnes of business opportunities to explore. Also, the art and music scene in Kuwait is regarded as among the most developed in the world. So much so, that Kuwait is often called the ‘Hollywood of the Gulf’ because of the advancements made in the theatre and arts scene. So this is another area of interest in terms of business and investment opportunities for other countries.

Exports and Imports In Kuwait

Overview In 2022, Kuwait was the number 56 economy in the world in terms of GDP (current US$), the number 42 in total exports, the number 55 in total imports, the number 24 economy in terms of GDP per capita (current US$) and the number 46 most complex economy according to the Economic Complexity Index (ECI).

Top Exports of Kuwait

The top exports of Kuwait are Crude Petroleum ($62.6B), Refined Petroleum ($16.8B), Petroleum Gas ($3.51B), Sulfonated, Nitrated or Nitrosated Hydrocarbons ($3.23B), and Acyclic Alcohols ($2.79B), exporting mostly to China ($24.3B), India ($15B), South Korea ($10.8B), Japan ($8.64B), and Chinese Taipei ($7.34B).

Top Imports of Kuwait

The top imports of Kuwait are Cars ($5.12B), Gold ($3.25B), Jewellery ($2.95B), Packaged Medicaments ($1.42B), and Broadcasting Equipment ($1.35B), importing mostly from United Arab Emirates ($13B), China ($10.2B), Saudi Arabia ($5.91B), United States ($4.72B), and Japan ($2.57B).

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