KUWAIT CITY, Aug 18: The Minister of Foreign Affairs of the Republic of India, Dr. Subrahmanyam Jaishankar, stated on Sunday that the relations between India and Kuwait are both historic and deep, highlighting the agreement between the two sides on many important issues. This statement was made by Minister Jaishankar to the Kuwait News Agency (KUNA) on the occasion of his official visit and accompanying delegation to the country.

The minister noted that the State of Kuwait is India's sixth-largest partner in the field of energy, pointing out that over one million Indian citizens reside in Kuwait and send remittances worth one billion US dollars annually. He also mentioned the activity of the Kuwait Investment Authority in India, which has substantial investments there, emphasizing the growing interest in foreign direct investment in his country.

Dr. Jaishankar explained that bilateral trade between the two countries has long been between 10 and 15 billion US dollars, with many Indian companies participating in infrastructure projects and providing services across various fields. He added that there are discussions about the ongoing free trade agreement in the context of the Gulf Cooperation Council, noting that Kuwait is interested in reaching an understanding on food security with India and addressing some specific issues related to anti-dumping duties.

The minister indicated that there is potential to expand cooperation in the field of medicines and medical equipment, and recognition of the Indian Pharmacopoeia would be beneficial. Regarding the future relationship with the Gulf Cooperation Council countries, Minister Jaishankar stated that India views the GCC as a major partner, explaining that "the Gulf region is very close and has significant economic, security, and political interests for us. We are fully aware that the Cooperation Council represents one-sixth of India's total trade and one-third of the presence of its communities."

He also noted that 30 percent of India's oil needs and 70 percent of its gas needs are imported from the Gulf Cooperation Council countries. During Indian Prime Minister Narendra Modi's tenure, the country has given special priority to developing close relations with the Gulf Cooperation Council nations.