Kuwait keen on investing in Indian petrochemical industry

New Delhi, June 15 (UNI) Kuwait is keenly interested in enhancing the bilateral trade with India and investing in major sectors including Petrochemicals in the near future, Kuwaiti Chamber of Commerce and Industry (KCCI) First Vice Chairman Hilal Meshari Al-Mutairi said today.

India will go in for building real-estate, infrastructure and construction sectors in Kuwait.

This was revealed during an interactive meeting of Kuwaiti business delegation under Mr Mutairi with FICCI here.

''Indo-Kuwaiti business cooperation has a huge scope for enlargement through diversification of the trade, joint ventures and industrial tie-ups as the bilateral trade between the two states has currently reached 700 million dollars,'' Mr Mutairi said.

Ministry of Commerce and Industry Director R M Mishra said, ''Pushing the economic agenda by both the countries at global level is a matter of priority.'' In this direction, Free Trade Agreement (FTA) is to be signed between the two states in the near future, he said.

ESSAR Group, Director (Oil and Gas) S Mathur opined that the bilateral ties are being steadily expanded and can further be strengthened by continuous interactions and cooperation, including regular exchange of delegations.

With the help of the KCCI, FICCI can further enhance the trade and investment relations between the public and private sector of both the countries, he added.

Other official business delegation members from Kuwait favoured that FICCI and KCCI can provide more focused forums for concentrating on sectors including oil and gas, energy, construction (real estate, IT parks, SEZs), steel, fertilisers, food processing, tourism, training and education, healthcare for mutual benefit.

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