Kuwait's PM to address Indian industry today

Meet to focus on oil, petrochemicals and fertilisers

Kuwait's Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah is going to address captains of Indian industry today with a special focus on continuing the strategic relationship in crude oil, petrochemicals and fertilisers.

The business luncheon meeting is jointly organised by the three business chambers - Federation of Indian Chambers of Commerce and Industry (FICCI), Confederation of Indian Industry (CII) and Associated Chambers of Commerce and Industry of India (ASSOCHAM).

The Kuwaiti Prime Minister, who is on a four-day visit here, is going to meet Prime Minister Manmohan Singh, external affairs minister Salman Khurshid, finance minister P Chidambaram and commerce and industry minister Anand Sharma later today.

“The visit is crucial for strategic reasons. So we are now planning to go for joint ventures and a well-rounded relationship, much beyond the buyer-seller relationship. We are looking at increasing our exports there,” said Mridul Kumar, joint secretary (Gulf), ministry of external affairs.   

Sheikh Jaber is accompanied by a high-level delegation, including ministers, senior officials and captains of industry. This is the first head of government-level visit from Kuwait in last 10 years.

Kuwait is a major supplier of India's energy needs with almost 10% petrol imports sourced from the Gulf country. India-Kuwait bilateral trade has doubled in the past three years, standing at $17 billion.

Prime Minister Sheikh Jaber is to call on President Pranab Mukherjee and Vice-President Hamid Ansari.

Indians form the largest expatriate community in Kuwait at over 700,000.