Piyush Goyal Engages with Kuwait and UAE to Tackle Energy Supply Disruptions

Ministerial Talks to Address Trade Challenges

New Delhi: On Friday, Piyush Goyal, the Minister of Commerce and Industry, conducted discussions with his counterparts from Kuwait and the UAE to address the ongoing disruptions in energy supplies and to expedite the restoration of trade activities.

The trade relations between India and West Asia have faced significant challenges due to the recent military actions by the US and Israel against Iran.

During a virtual meeting with Osama Khaled Boodai, the Kuwaiti Minister, Goyal expressed India's readiness to assist in resolving supply chain challenges, particularly concerning Kuwait's food security.

According to a statement from the Commerce Ministry, both ministers concurred that prioritizing dialogue and diplomacy is essential to quickly restore energy supplies and trade flows.

Goyal also engaged in a virtual conversation with Thani bin Ahmed Al Zeyoudi, the UAE's Minister of Foreign Trade, where they explored strategies to maintain supply chain continuity.

The two sides acknowledged the pressure on regional supply chains and stressed the importance of coordinated efforts to facilitate smooth trade.

Goyal commended the UAE for its proactive logistics initiatives, such as the establishment of alternative routes and multimodal transport, while reiterating India's commitment to support exporters and ensure the steady supply of essential goods.

Additionally, Goyal met with Jasem Mohamed Al Budaiwi, the Secretary General of the GCC, where he expressed optimism that the recently announced ceasefire in the region would lead to lasting peace and stability.

He highlighted the strong cultural connections between India and the GCC, which underpin robust economic and commercial ties.

The ministry noted that both parties emphasized the necessity for coordinated actions to ensure uninterrupted trade.

In discussions with Abdulla Bin Adel Fakhro, Bahrain's Minister of Industry and Commerce, Goyal underscored the importance of maintaining reliable trade routes through maritime and other means in the region.

These discussions are crucial as the Gulf Cooperation Council (GCC) nations are significant trading partners for India.

The joint military actions by the US and Israel against Iran have severely impacted shipping movements in international waters, particularly affecting West Asian countries.

This conflict has created hurdles for exporters aiming to deliver goods to the Gulf region, which recorded a bilateral trade volume of USD 178 billion in 2024-25, comprising USD 56.87 billion in exports and USD 121.67 billion in imports.

Key sectors experiencing strain include petroleum products, chemicals, engineering goods, rice, pharmaceuticals, and gems and jewelry.

The GCC comprises six nations: the UAE, Saudi Arabia, Oman, Bahrain, Qatar, and Kuwait.