This week’s headline features a story from Asia: 

India and Kuwait have elevated their ties to a "Strategic Partnership," focusing on trade, energy, defence, and technology. The resumption of India-GCC Free Trade Agreement talks aims to enhance economic integration. Energy cooperation is expanding into renewable sectors, with joint ventures in green hydrogen and ammonia. Bilateral trade reached over $10 billion in FY 2023-24, with increasing exports and investment flows. Both nations are also strengthening regional and global cooperation, addressing issues like climate change, terrorism, and economic stability.

Europe: On December 18, 2024, UK Prime Minister Keir Starmer hosted 13 Indian business leaders to strengthen UK-India economic ties. Discussions focused on boosting investment, job creation, and a UK-India trade deal. With £42 billion in trade, both nations aim to deepen their Comprehensive Strategic Partnership for mutual growth.

North America:  The US push for India to reduce import duties is unlikely to have a major impact, as only 0.4% of trade faces tariffs above 30%. Most of the US imports to India are taxed below 10%, with high duties on items like cars and electric vehicles accounting for a very small portion of trade.

South America: India and Brazil's trade relationship exceeds $15 billion, with Brazil exporting agricultural products like sugar and soybeans, while India exports apparel and steel. Experts see potential in expanding agricultural trade, with opportunities to share advanced farming methods and address logistical challenges.

Asia: India and Kuwait have elevated their ties to a "Strategic Partnership," focusing on trade, energy, defence, and technology. The resumption of India-GCC Free Trade Agreement talks will boost economic integration, while expanding energy collaboration includes green hydrogen. Bilateral trade surpassed $10 billion in FY 2023-24, strengthening regional cooperation.

Australia: India has become the eighth largest international tourism market for Western Australia, with 35,000 visitors contributing nearly AUD 118 million in tourism revenue to Australia in 2024. Tourism Western Africa is focusing on improving direct flight access from India and promoting existing one-stop services, while continuing to promote its "Walking on a Dream" brand in India.

Africa: External Affairs Minister Jaishankar met with African journalists to discuss India's transformation, Global South commitment, and Africa ties. Meanwhile, Prime Minister Modi’s historic visit to Nigeria focused on enhancing cooperation in defense, trade, education, and humanitarian aid.