New Delhi: Commerce and Industry Minister Piyush Goyal Friday held separate discussions with his Kuwaiti and UAE counterparts on containing disruptions in energy supplies and restoring trade flows at the earliest.
India’s trade with West Asia has been disrupted severely because of the attack by the US and Israel on Iran.
In his virtual interaction with his Kuwaiti counterpart, Osama Khaled Boodai, Goyal conveyed that India is willing to extend assistance to address any supply chain issues, particularly related to the food security of Kuwait.
“Both ministers agreed that dialogue and diplomacy should be given primacy and disruptions to energy supplies and trade flows should be restored at the earliest,” the Commerce Ministry said in a statement.
Goyal also held a virtual call with Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, UAE, and discussed ways to restore supply chain continuity.
“Both sides noted the strain on regional supply chains and emphasised coordinated efforts to ensure smooth trade flows,” it said.
Goyal appreciated the UAE’s proactive logistics measures, including the opening of alternate routes and multimodal transport, while highlighting India’s renewed steps to support exporters and ensure continuity of essential supplies to the country.
Further, Goyal held a bilateral meeting with Jasem Mohamed Al Budaiwi, GCC Secretary General.
During the meeting with Budaiwi, Goyal expressed hope that the ceasefire announced in the region would be enduring and pave the way for lasting peace and stability.
The minister recalled strong people-to-people ties between India and GCC, which form the core of strong economic and commercial relations with countries of the region.
“Both sides emphasised the need for coordinated efforts to ensure smooth trade flows,” the ministry said.
With Abdulla Bin Adel Fakhro, Minister of Industry and Commerce, Bahrain, the Indian minister stressed the need to ensure predictable trade flows through maritime and other modes in the region.
These deliberations are important as the Gulf Cooperation Council (GCC) members are key trading partners of India.
The joint attack launched by the US and Israel on Iran had led to severe disruptions in the movement of ships in international waters, particularly to the West Asian nations.
The conflict has posed challenges for exporters to ship goods to the Gulf region, with which India had a bilateral trade of USD 178 billion in 2024-25 (USD 56.87 billion exports and USD 121.67 billion imports).
The major sectors which are under stress include petroleum products, chemicals and plastics, engineering goods, rice, pharma and gems and jewellery.
The six countries in this region are the UAE, Saudi Arabia, Oman, Bahrain, Qatar and Kuwait.
PTI
