ID :
53581
Fri, 04/03/2009 - 07:55
Auther :
Shortlink :
https://www.oananews.org//node/53581
The shortlink copeid
India to seek greater investment from Kuwait
New Delhi, Apr 2 (PTI) Facing the impact of global
economic meltdown, India will seek enhanced investment from
cash-rich Kuwait, especially in infrastructure sector, when
Vice-President Hamid Ansari undertakes a visit there from
Monday.
In the first trip by any top Indian leader to Kuwait in
nearly three decades, Ansari will discuss with the leadership
of the hydrocarbon-rich country greater cooperation in oil and
gas as part of its energy security.
Issues related to ensuring maritime security for India's
strategic interests and terrorism would also be discussed
during the three-day visit.
Ansari will meet Kuwaiti ruler Amir Shiekh Sabah, Crown
Prince Sheikh Nawaf besides holding talks with Kuwaiti
Ministers of Defence, Foreign, Oil and Finance. Ansari will
also interact with Kuwaiti industry leaders.
With India looking for foreign investment to the tune of
USD 500 billion over the next few years, Ansari will discuss
ways by which flow of funds from Kuwait can increase
particularly in the times of global economic crisis which is
affecting India too.
"Kuwait has got capital which can be invested," Secretary
East N Ravi told reporters here today, adding the possibility
of Kuwaiti investment in India particularly in infrastructure
sector will be discussed.
"We have to discuss the framework for its," he said.
The two sides are also likely to sign two agreements on
cooperation in the field of science and technology, and
educational exchanges.
Apart from enhancing bilateral trade and investment and
converting it into a mutually beneficial one, the two sides
are looking to explore other areas of cooperation such as
informations and communication technology, biotechnology
and alternate energy sources, Ravi said.
India is among Kuwait's top 10 trading trading partners
with the bilateral trade touching USD 8.4 billion in 2007-08.
Kuwait provides 12 per cent of India's crude oil imports
and energy security is a crucial element of India's close and
friendly ties with Kuwait which is part of the extended
neighbourhood, Ravi said.
On the issue of maritime security, he said, India wants
to ensure that the energy imports from the Gulf continue
uninterrupted.
Terrorism is also an important issue and will be
discussed by India, apart from other matters of mutual and
regional interest, Ravi said.
The visit by Ansari, who will be accompanied by Minister
of State for Statistics and Programmes Implementation G K
Vasan and number of senior officials, comes two years after
the trip of the Amir of Kuwait to India.
Nearly 5.8 lakh Indian-origin people are currently
residing in Kuwait, making it the biggest expatriate community
in the Gulf country with a population of 3.4 million.
economic meltdown, India will seek enhanced investment from
cash-rich Kuwait, especially in infrastructure sector, when
Vice-President Hamid Ansari undertakes a visit there from
Monday.
In the first trip by any top Indian leader to Kuwait in
nearly three decades, Ansari will discuss with the leadership
of the hydrocarbon-rich country greater cooperation in oil and
gas as part of its energy security.
Issues related to ensuring maritime security for India's
strategic interests and terrorism would also be discussed
during the three-day visit.
Ansari will meet Kuwaiti ruler Amir Shiekh Sabah, Crown
Prince Sheikh Nawaf besides holding talks with Kuwaiti
Ministers of Defence, Foreign, Oil and Finance. Ansari will
also interact with Kuwaiti industry leaders.
With India looking for foreign investment to the tune of
USD 500 billion over the next few years, Ansari will discuss
ways by which flow of funds from Kuwait can increase
particularly in the times of global economic crisis which is
affecting India too.
"Kuwait has got capital which can be invested," Secretary
East N Ravi told reporters here today, adding the possibility
of Kuwaiti investment in India particularly in infrastructure
sector will be discussed.
"We have to discuss the framework for its," he said.
The two sides are also likely to sign two agreements on
cooperation in the field of science and technology, and
educational exchanges.
Apart from enhancing bilateral trade and investment and
converting it into a mutually beneficial one, the two sides
are looking to explore other areas of cooperation such as
informations and communication technology, biotechnology
and alternate energy sources, Ravi said.
India is among Kuwait's top 10 trading trading partners
with the bilateral trade touching USD 8.4 billion in 2007-08.
Kuwait provides 12 per cent of India's crude oil imports
and energy security is a crucial element of India's close and
friendly ties with Kuwait which is part of the extended
neighbourhood, Ravi said.
On the issue of maritime security, he said, India wants
to ensure that the energy imports from the Gulf continue
uninterrupted.
Terrorism is also an important issue and will be
discussed by India, apart from other matters of mutual and
regional interest, Ravi said.
The visit by Ansari, who will be accompanied by Minister
of State for Statistics and Programmes Implementation G K
Vasan and number of senior officials, comes two years after
the trip of the Amir of Kuwait to India.
Nearly 5.8 lakh Indian-origin people are currently
residing in Kuwait, making it the biggest expatriate community
in the Gulf country with a population of 3.4 million.
