Kuwait is considered a prosperous country since most of its revenue is obtained from the oil and gas sector. By exporting around 92 % of the obtained material, the nation has achieved great heights and is recognized as a potentially massive global market for all products. Various industries have seen colossal growth, and workforce establishment is also looking to develop more prominently. However, there are specific sectors across the country in which the raw material needed has to be exported from other countries. Here you will know the top chemicals exported from India to Kuwait.
Kuwait Trade Statistics
In the year 2018, a survey conducted pointed towards the fact that Kuwait’s largest import was cars and specific broadcasting equipment. Gold and jewelry were also on the list and accounted for almost 1.25 billion dollars. The result didn’t portray anything astonishing, given the country’s production of certain materials and the lack of others. Importing material from other countries has boosted not only the country’s growth rate but also the global trading patterns. After Kuwait had established its place on the worldwide plot, the nation enhanced relations with the neighboring as well as distant realms.
Kuwait has great trading partners such as the USA, South Korea, China, and India. Though procures enormous amounts of gas, the country needs to export certain necessary chemicals to keep the industries up and running. Focusing on the chemical import-export relation between Kuwait and India, around 12 billion dollars of worth chemicals are exported from the later. This scenario indeed speaks volumes about the trade occurring between the two countries and their economic happenings. Indeed, India’s 10 % to 12 % of the entire oil export is from Kuwait, and they share the title of being one pair of the largest trade partners across the globe.
India and Kuwait not only share cordial relationships with another but also extend a helping hand every now, which includes boosting each other’s economy. The trade between the two countries intensified after 2011 when globalization reached its highest point. The bilateral trade crossed a massive figure of $17 billion, and the numbers have only improved in the past decade. Though petroleum accounts for most of the business trade, other things such as gold, cars, and chemicals also play a significant role to pump up the economic digits for both the countries. While Kuwait exports its abundantly available natural resource, i.e., mineral oil, India exports rice, other grains, cars, and chemicals. Know in the statistics of India exports to Kuwait.
After an overlook of the trade between the two countries, the Indian import scene deserves mention. Talking about India, it imports around 153 billion dollars of mineral fuels from the Gulf countries, which accounts for 32 % of the total imports. It does import a certain amount of organic chemicals, but only the ones that cannot be produced in-house. The country’s foreign trade accounts for almost half of the country’s GDP (Gross Domestic Product). Such is the impact of the chemical dealing on this figure that India’s foreign trade index lists them on the 5th position of all the commodities traded, and the transactions are looked after minutely.
India’s chemical production has been documented extensively since the 1980s as the world began to realize the importance of base chemicals to keep industry furnaces burning. The trade showed a leap during the early 2010s and has seldom dipped ever since. India’s oldest and most loyal trading partners include the USA, China, Malaysia, Germany, and Kuwait. The global market is influenced marginally by many small-time trades clumped together compared to the many nations trading on a common platform. Sharing a friendly relation with not only the neighboring countries but also the one beyond can help boost economies drastically.
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Focusing on the chemical trade, the top 5 chemical exporters of India include the big giants, including Shanti Inorgochem. These companies export top quality chemicals, and some of the most important compounds are listed below:
The above mentioned are the major organic chemicals shipped. Top organic chemicals that are exported from India to Kuwait occupy most of the bulk of the export chemical lot.
Top Inorganic Chemical Products Exported from India to Kuwait are as Follows:
There are many other chemicals exported, but they are not traded in large enough quantities. Among the above-mentioned inorganic chemicals, sodium Bisulphite deserves a special mention. Its uses are relatively primary and necessary in daily functioning, making it the highest exported inorganic chemical from India. Despite the complexity of the chemical, its functioning is quite simple, and so are its uses.
Given the substantial amounts of chemical exchange, the involved companies import and export traffic must be moderated skillfully. The first step is to ensure the quality of the products advertised by the company. To provide quality output, top-tier companies export the chemicals, and they include –
1. Shanti Inorgochem Pvt Ltd.
2. Aarti Industries Ltd.
3. UPL Limited
4. Tata Chemicals Ltd.
5. Atul Ltd.
The companies mentioned above have excellent products, checked and authorized by the government. Being the finest companies and procuring pure, good quality chemicals have made these companies prime chemical exporters to gulf countries. The top 10 chemical companies of India ensure quality via a series of checkpoints, which are broadly classified into three categories – Quality control, quality assurance, and quality management.
Quality planning is necessary to push material across the globe and ensure customer satisfaction. The term “export quality” was coined to confirm that exported products are meeting domestic quality. After having completed all the requirements, inorganic chemicals exported and shipped from companies like Shanti Inorgochem is quite in demand in the Gulf countries .
In the year 2017, the trading between various gulf countries and India sky-rocketed to around 100 billion dollars, and the feat exceeded the numbers documented that of the Indian-ASEAN and Indian-EU trade. Chemical trading did have a hand in the massive number of procurement and is undoubtedly worth mentioning. The Gulf Cooperation Council (GCC) has been set up to monitor gulf trading, and they have extensively documented dealings with India. It was noticed during a survey that India’s dealings with Kuwait are at the foremost position than any other included country.
Chemical trade, mainly the exporting of inorganic chemicals, peaked throughout the findings. The mentioned companies supplying chemicals are responsible for this positive trend. Shanti Inorgochem is one of those companies that is recognized as the prime exporter of special chemicals and doesn’t pertain to Kuwait only. The company has established records of exporting high-quality products to the UAE, Malaysia, and the US as well. It is one of India’s most extensive sodium Bisulphite producers and is becoming noteworthy than ever since the chemical trade boom.
The chemical industry in India is on the rise since the 1930s, and exporting material produced has benefitted the nation’s economy significantly. Ensuring the export of quality products across the world provides good trading relations between the two concerned countries and a potential consumer and producer nation.
Chemical trade and dealings between Kuwait and India are indeed taken in a positive stride by both the nations. It is only a subject of time that the relation between the two becomes documented as a momentous event that alters individual perceptions on foreign trading. Amongst the top companies, Shanti Inorgochem is the leading chemical company in India, which exports the best chemical products in the different Gulf countries.