logo
Kuwait and India can achieve more together

Kuwait and India can achieve more together

Arab Times13-05-2025

India and Kuwait share a longstanding relationship rooted in historical trade links, cultural affinities, and the presence of a substantial Indian expatriate community in Kuwait. Over the years, this bond has grown stronger through economic cooperation, people-to-people ties, and diplomatic engagements. The recent visit of Indian Prime Minister Narendra Modi to Kuwait in December 2024 marked a significant milestone, setting the stage for a deeper and more strategic partnership between the two nations. Prime Minister Modi's visit to Kuwait was historic, as it was the first by an Indian Prime Minister in 43 years. During the visit, both countries agreed to upgrade their relationship to a 'Strategic Partnership,' a move that reflects their mutual commitment to expanding cooperation across various sectors.
This decision paves the way for enhanced collaboration in defense, trade, investment, energy, and cultural exchanges. A major outcome of the visit was the establishment of the Joint Commission on Cooperation (JCC), which will be co-chaired by the Foreign Ministers of both countries. This institutional mechanism is designed to monitor and strengthen the overall bilateral relationship, ensuring regular high-level dialogue and cooperation. Defence cooperation has emerged as a key pillar of India- Kuwait relations. A Memorandum of Understanding (MoU) on Defense Cooperation was signed, providing a framework for joint military exercises, training of defense personnel, coastal security collaboration, and the development of defense technologies. This agreement underscores the shared commitment to regional stability and maritime security in the Gulf and the Indian Ocean regions. Trade and investment remain a cornerstone of the bilateral relationship.
In the fiscal year 2023 24, bilateral trade between India and Kuwait reached $10.47 billion, with Indian exports witnessing a 34.7% increase from the previous year. Kuwait continues to be a key energy partner for India, supplying crude oil and liquefied petroleum gas (LPG), fulfilling approximately 3% of India's total energy requirements. The strong presence of the Indian diaspora in Kuwaixt, which exceeds one million, has played a crucial role in fostering India-Kuwait relations. During his visit, Prime Minister Modi addressed the Indian community at the 'Hala Modi' event, acknowledging their contributions to Kuwait's economic and social development. To further strengthen cultural ties, both countries signed a Cultural Exchange Programme (2025- 2029) and an Executive Programme on Sports Cooperation (2025-2028). These initiatives aim to enhance cultural understanding and promote sports collaborations between the two nations.
The elevation of the India-Kuwait relationship to a Strategic Partnership is a promising development, yet there remains significant potential for further collaboration. Building on existing ties, both nations can explore new avenues in technological innovation, education, renewable energy, and cultural exchange. Strengthening cooperation in these areas will not only bolster economic growth but also foster deeper societal connections, paving the way for a more interconnected and prosperous future. Additionally, increased collaboration in healthcare, agriculture, and digital transformation could address shared challenges while creating opportunities for innovation and sustainable development. Moving forward, it is essential for both countries to continue building a resilient partnership that adapts to global changes and benefits both societies for generations to come.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

One dead after insurgents briefly seize control of city in southwest Pakistan and loot a bank
One dead after insurgents briefly seize control of city in southwest Pakistan and loot a bank

Arab Times

timea day ago

  • Arab Times

One dead after insurgents briefly seize control of city in southwest Pakistan and loot a bank

QUETTA, Pakistan, May 31, (AP): Dozens of armed separatists briefly seized control of a high-security area in a city in southwestern Pakistan on Friday, killing a government official and looting a bank before fleeing, police and officials said. Hidayat Buledi, a local government official, was killed and his home was set on fire in the attack on Sorab, in the Balochistan region, local police chief Hafeez Ullah said. He said Buledi was "martyred' while trying to protect women and children trapped inside the burning house during the assault. Ullah said several insurgents were killed in the shootout with police. The outlawed Baloch Liberation Army, or BLA, which was designated a terror group by the United States in 2019, claimed responsibility for the attack. In a statement, BLA said its fighters had taken control of key government buildings in Sorab. Ullah dismissed the claim, saying the insurgents fled when security forces responded to the assault. He said the attackers stormed Buledi's home and also set fire to several residences of government officials. Four civilians were injured. Prime Minister Shehbaz Sharif condemned the attack, saying the assailants targeted civilians, including women and children. Shahid Rind, a spokesman for the Balochistan government, blamed Indian proxies for the attack without offering any evidence. There was no immediate comment from New Delhi. Sorab, a city known for its apple and grape orchards, is located near a key China-Pakistan trade route, which includes roads and rail systems to link western China's Xinjiang region to Pakistan's southwestern Gwadar port on the Arabian Sea.

India, Pakistan drone battles mark new arms race in Asia
India, Pakistan drone battles mark new arms race in Asia

Kuwait Times

time3 days ago

  • Kuwait Times

India, Pakistan drone battles mark new arms race in Asia

Nuclear rivals to invest large sums in drones NEW DELHI: A little after 8:00 pm on May 8, red flares streaked through the night sky over the northern Indian city of Jammu as its air-defense systems opened fire on drones from neighboring Pakistan. The Indian and Pakistani militaries have deployed high-end fighter jets, conventional missiles and artillery during decades of clashes, but the four days of fighting in May marked the first time New Delhi and Islamabad utilized unmanned aerial vehicles at scale against each other. The fighting halted after the US announced it brokered a ceasefire but the South Asian powers, which spent more than $96 billion on defense last year, are now locked in a drones arms race, according to Reuters' interviews with 15 people, including security officials, industry executives and analysts in the two countries. Two of them said they expect increased use of UAVs by the nuclear-armed neighbors because small-scale drone attacks can strike targets without risking personnel or provoking uncontrollable escalation. India plans to invest heavily in local industry and could spend as much as $470 million on UAVs over the next 12 to 24 months, roughly three times pre-conflict levels, said Smit Shah of Drone Federation India, which represents over 550 companies and regularly interacts with the government. The previously unreported forecast, which came as India this month approved roughly $4.6 billion in emergency military procurement funds, was corroborated by two other industry executives. The Indian military plans to use some of that additional funding on combat and surveillance drones, according to two Indian officials familiar with the matter. Defense procurement in India tends to involve years of bureaucratic processes but officials are now calling drone makers in for trials and demonstrations at an unprecedented pace, said Vishal Saxena, a vice president at Indian UAV firm ideaForge Technology The Pakistan Air Force, meanwhile, is pushing to acquire more UAVs as it seeks to avoid risking its high-end aircraft, said a Pakistani source familiar with the matter. Pakistan and India both deployed cutting-edge generation 4.5 fighter jets during the latest clashes but cash-strapped Islamabad only has about 20 high-end Chinese-made J-10 fighters compared to the three dozen Rafales that Delhi can muster. Pakistan is likely to build on existing relationships to intensify collaboration with China and Turkey to advance domestic drone research and production capabilities, said Oishee Majumdar of defense intelligence firm Janes. Islamabad is relying on a collaboration between Pakistan's National Aerospace Science and Technology Park and Turkish defense contractor Baykar that locally assembles the YIHA-III drone, the Pakistani source said, adding a unit could be produced domestically in between two to three days. Pakistan's military declined to respond to Reuters' questions. The Indian defense ministry and Baykar did not return requests for comment. India and Pakistan 'appear to view drone strikes as a way to apply military pressure without immediately provoking large-scale escalation,' said King's College London political scientist Walter Ladwig III. 'UAVs allow leaders to demonstrate resolve, achieve visible effects, and manage domestic expectations — all without exposing expensive aircraft or pilots to danger,' he added. But such skirmishes are not entirely risk-free, and Ladwig noted that countries could also send UAVs to attack contested or densely populated areas where they might not previously have used manned platforms. Drone swarms and vintage guns The fighting in May, which was the fiercest in this century between the neighbors, came after an April 22 militant attack in the disputed Himalayan region of Kashmir that killed 26 people, mostly Indian tourists. Delhi blamed the killings on 'terrorists' backed by Islamabad, which denied the charge. Indian Prime Minister Narendra Modi vowed revenge and Delhi on May 7 launched air strikes on what it described as 'terrorist infrastructure' in Pakistan. The next night, Pakistan sent hordes of drones along a 1,700-kilometer (772-mile) front with India, with between 300 and 400 of them pushing in along 36 locations to probe Indian air defences, Indian officials have said. Pakistan depended on Turkish-origin YIHA-III and Asisguard Songar drones, as well as the Shahpar-II UAV produced domestically by the state-owned Global Industrial & Defense Solutions conglomerate, according to two Pakistani sources. But much of this drone deployment was cut down by Cold War-era Indian anti-aircraft guns that were rigged to modern military radar and communication networks developed by state-run Bharat Electronics, according to two Indian officials. A Pakistan source denied that large numbers of its drones were shot down on May 8, but India did not appear to sustain significant damage from that drone raid. India's use of the anti-aircraft guns, which had not been designed for anti-drone-warfare, turned out to be surprisingly effective, said retired Indian Brig Anshuman Narang, now an UAV expert at Delhi's Centre for Joint Warfare Studies. 'Ten times better than what I'd expected,' he said. India also sent Zionist HAROP, Polish WARMATE and domestically-produced UAVs into Pakistani airspace, according to one Indian and two Pakistan sources. Some of them were also used for precision attacks on what two Indian officials described as military and militant infrastructure. The two Pakistani security sources confirmed that India deployed a large number of the HAROPs - a long-range loitering munition drone manufactured by Israel Aerospace Industries. Such UAVs, also known as suicide drones, stay over a target before crashing down and detonating on impact. Pakistan set up decoy radars in some areas to draw in the HAROPs, or waited for their flight time to come towards its end, so that they fell below 3,000 feet and could be shot down, a third Pakistani source said. Both sides claim to have notched victories in their use of UAVs. India successfully targeted infrastructure within Pakistan with minimal risk to personnel or major platforms, said KCL's Ladwig. For Pakistan's military, which claimed to have struck Indian defense facilities with UAVs, drone attacks allow it to signal action while drawing less international scrutiny than conventional methods, he noted. Cheap but with Achilles heel Despite the loss of many drones, both sides are doubling down. 'We're talking about relatively cheap technology,' said Washington-based South Asia expert Michael Kugelman. 'And while UAVs don't have the shock and awe effect of missiles and fighter jets, they can still convey a sense of power and purpose for those that launch them.' Indian defense planners are likely to expand domestic development of loitering munitions UAVs, according to an Indian security source and Sameer Joshi of Indian UAV maker NewSpace, which is deepening its research and development on such drones. 'Their ability to loiter, evade detection, and strike with precision marked a shift toward high-value, low-cost warfare with mass produced drones,' said Joshi, whose firm supplies the Indian military. — Reuters And firms like ideaForge, which has supplied over 2,000 UAVs to the Indian security forces, are also investing on enhancing the ability of its drones to be less vulnerable to electronic warfare, said Saxena. Another vulnerability that is harder to address is the Indian drone program's reliance on hard-to-replace components from China, an established military partner of Pakistan, four Indian dronemakers and officials said. India continues to depend on China-made magnets and lithium for UAV batteries, said Drone Federation India's Shah. 'Weaponization of the supply chain is also an issue,' said ideaForge's Saxena on the possibility of Beijing shutting the tap on components in certain situations. For instance, Chinese restrictions on the sale of drones and components to Ukraine have weakened Kyiv's ability to produce critical combat drones, according to the Center for Strategic and International Studies think-tank. A spokesperson for China's Foreign Ministry said in response to Reuters' questions that Beijing has always implemented export controls on dual-use items in accordance with domestic laws and regulations as well as its international obligations. 'Diversification of supply chain is a medium to long term problem,' said Shah. 'You can't solve it in short term.'- Reuters

NIC awarded Kuwait's Best Investment Bank
NIC awarded Kuwait's Best Investment Bank

Kuwait Times

time4 days ago

  • Kuwait Times

NIC awarded Kuwait's Best Investment Bank

KUWAIT: In recognition of its exceptional services and continued achievements both locally and regionally, National Investments Company (NIC) has been awarded the title of Best Investment Bank in Equity Markets – Kuwait 2025 by Euromoney, one of the world's most prominent financial publications. This prestigious accolade highlights NIC's unwavering commitment to delivering world-class financial and advisory services to its clients. Commenting on the award, Bashar Khan, Managing Director of the Investment Banking Sector at NIC, said: 'We are honored to receive this distinguished recognition for the second consecutive year. It reflects the dedication of our team and our ongoing drive to create value for our clients and shareholders through excellence in investment banking services.' Khan emphasized that NIC's Investment Banking Sector has become a key competitive player in the local market and a growing force in the regional arena. This success is attributed to the sector's diverse advisory capabilities and its active engagement in Alternative Investments across local, regional, and global markets. He noted that the sector has recently managed a wide array of investment mandates, including mergers and acquisitions, capital increases, private placements, and high-impact advisory services. These efforts are in-line with NIC's strategic focus on service diversification and positioning itself as a premier investment advisor delivering innovative, value-driven solutions. Bashar Khan noted that National Investments Company has successfully executed a number of distinguished transactions with a total value exceeding $2 billion. Bashar Khan These included leading a preferred share issuance for a prominent and reputable energy company, in addition to managing multiple mergers and acquisitions, acquisition financing, and capital increases across various firms. The company also successfully oversaw several private placements and strategic advisory mandates. These accomplishments reflect NIC's ongoing strategy to diversify its service offerings and reinforce its position as a leading investment advisor in both local and regional markets. By delivering innovative solutions that promote sustainable growth and enhance value for clients and shareholders, NIC continues to demonstrate its commitment to excellence—a success made possible by the exceptional professionalism and expertise of its team. Khan concluded by stating that these accomplishments reinforce NIC's standing as a leading investment bank. They also showcase the company's ability to offer tailored, effective solutions that align with NIC's clients' long-term goals while cementing the company's role as a trusted advisory partner. It is worth noting that Euromoney bases its awards on comprehensive qualitative and quantitative assessments, including innovation, service delivery, sector impact, and feedback from industry experts. For over 50 years, Euromoney has honored institutions that make meaningful contributions to the financial services sector, setting benchmarks in quality, innovation, and client success.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store