India-Kuwait linkages go back to ancient times, with recent excavations showing that connections between the Indian west coast and the Kuwait region pre-date the Indus Valley and Mesopotamian civilisations. Kuwait's strategic position made it a natural trading hub linking India, Mesopotamia and the Mediterranean. Guided by monsoon winds, Kuwaiti dhows navigated the Indian coastline from Gujarat to Kerala, fostering robust commercial ties and interaction with local communities.
India was a major market for Kuwaiti pearls, Arabian horses, and Basra dates, which were traded for our spices, textiles and food products. The emergence of Mikimoto cultured pearls in the 1920s and the Great Depression of 1929 disrupted the natural pearls market while surging oil revenues following the discovery of oil in Kuwait in the 1930s delivered a deadly blow to it.
Reflective of our close commercial ties, the Indian rupee was the official currency in Kuwait till its independence in 1961.
Kuwait has, for many decades, been a major crude oil supplier to India, meeting about 3% of our current energy needs, while Indian companies have provided valuable expertise and services to Kuwait's oil and gas sector. Nonetheless, our cooperation deserves to go beyond a purely crude oil trading buyer-seller relationship to encompass wider interaction in oil and gas.
This story is from the December 21, 2024 edition of Hindustan Times Pune.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 21, 2024 edition of Hindustan Times Pune.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Battery swapping policy for EVs on backburner
A federal policy to encourage battery swapping for electric vehicles may go on the backburner, two people aware of the matter said, in the backdrop of industry fears that forcing common standards is not practical and will hurt innovation.
6 More Held Over Assam Miners' Deaths, Ops Go On
Assam police on Sunday arrested six more people from Dima Hasao district in connection with the death of four miners at the rat-hole coal mine which was flooded on January 6, trapping at least nine.
Explosion at Kumbh guts several tents, no casualties
Over 100 tents were gutted in a major fire in Sector 19 of the sprawling 4000 ha tent city at the Mahakumbh Mela in Prayagraj on Sunday afternoon but no casualties were reported in the case, officials said.
Trump 2.0: Prospects of global disruption
The world is watching nervously as the new President begins his second innings in Washington
Neeraj Chopra ties the knot with tennis player Himani Mor
India's double Olympic medallist and 2023 world champion Neeraj Chopra has tied the knot with Himani Mor in a private ceremony.
In Mann Ki Baat, Modi praises makers of 'sacred' Constitution
Highlights from address
Shooting band kara di gayi hai: FWICE chief on the ceiling collapse of Arjun-Jackky film set
On Saturday, several people were injured at the shoot of Mere Husband Ki Biwi in Mumbai, after the ceiling of the set collapsed.
Djokovic-Alcaraz Blockbuster Next
Serbia's record 10-time winner faces the young Spaniard who bids to complete a career Grand Slam in the quarter-finals
Policing personal freedoms, courtesy social sensibilities
What does it mean to live in the world's largest democracy if consenting adults must still justify their private choices?
Domestic composite materials industry to hit $2.8 bn by 2030
THE INDIAN COMPOSITE MATERIALS MARKET IS ESTIMATED AT $1.8 BILLION IN 2024, FRP INSTITUTE REPORT SAID
