India Markets closed

Pradhan seeks Kuwaiti investments in India

·3-min read

New Delhi, Oct 12 (PTI) Petroleum Minister Dharmendra Pradhan on Monday invited Kuwait to invest in India as he saw the oil-rich Gulf nation as an important and trusted partner in achieving energy security.

Pradhan, on a two-day visit to Kuwait, first called on Sheikh Nawaf Al-Ahmed Al-Jaber Al-Sabah, the Emir of Kuwait, to offer condolences on the passing away of its former Emir Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah.

He was carrying letters from President Ram Nath Kovind and Prime Minister Narendra Modi to the new leadership of Kuwait.

'On behalf of Govt. of India, PM Shri @narendramodi and the people of India expressed sincere condolences to the Al-Sabah family, the Kuwait Govt. and its people, on the sad demise of HH Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah, Late Emir of the State of Kuwait,' Pradhan tweeted.

The late Emir was known as the 'Dean of Arab Diplomacy' for his vast diplomatic experience contributed immensely to regional peace, security and stability, he said. 'A humanitarian leader, (he) was instrumental in strengthening our bilateral ties, and always cared for the Indian community in Kuwait.' 'A proponent of peace and a statesman par-excellence, HH Late Emir's friendship and his commitment towards a strong bilateral relationship between our two great countries was always cherished by India and its people,' he added.

According to Pradhan, the Sheikh Nawaf Al-Ahmed Al-Jaber Al-Sabah thanked President and Prime Minister and the people of India for their condolences.

'He stated that India Kuwait relations are historic and will continue to progress for mutual benefit,' Pradhan said.

The minister thereafter held a meeting with Kuwaiti Oil Minister to discuss bilateral engagements.

'Had a good meeting with HE Dr. Khaled Ali Al-Fadhel, Minister of Oil and Acting Minister of Electricity and Water, State of Kuwait. We discussed on how to enhance our energy partnership, including two-way investments in the oil & gas sector,' he said.

India, Pradhan said, sees Kuwait as an important and trusted partner in achieving energy security.

'Invited HH Al-Fadhel to invest in India as a part of the #AatmaNirbharBharat initiative and be a part of India’s growth story,' he added.

Kuwait Emir Sheikh Sabah Al Ahmad passed away at a US hospital on September 29. He was 91.

Kuwait is a strategically important country for India in the Gulf region. It is India's sixth-largest crude oil supplier.

The Indian community with a strength of about 10 lakh is the largest expatriate community in Kuwait and is regarded as the community of first preference among the expatriates.

Professionals like engineers, doctors, chartered accountants, scientists, software experts, management consultants, architects; technicians and nurses; retail traders and businessmen are present in Kuwait, though a large proportion consists of unskilled and semi-skilled workers.

Kuwait's Sovereign Wealth Fund (SWF) is reported to have invested USD 2 billion in India since 2017, taking the total investment in the country to USD 5 billion. PTI ANZ MR