KUWAIT CITY, Sept 29: The Indian Ambassador to Kuwait, HE Dr. Adarsh Swaika, expressed his admiration for the ongoing high-level visits and exchanges between Indian and Kuwaiti officials and highlighted the recent meeting between His Highness the Crown Prince Sheikh Sabah Al- Khaled and Indian Prime Minister Narendra Modi in New York. He remarked that such interactions are instrumental in advancing the bilateral relationship, taking it to new and significant heights.

Speaking to the local media representatives, Dr. Swaika shared that India exported approximately $2 billion worth of goods to Kuwait last year. This trade included various products, such as vehicles manufactured in India, telecommunications equipment, and food items, notably Basmati rice. He also underscored the keen interest of Indian businessmen in exploring opportunities within the Kuwaiti market. The ambassador reminded of a delegation of about 40 Indian companies specializing in the food and agriculture sectors that recently visited Kuwait and engaged in productive discussions with Kuwaiti businessmen. Furthermore, he mentioned that the Chairman of the Union of Cooperative Societies and representatives from the Public Authority for Food and Nutrition visited India recently to attend the ‘Indian Global Food’ event in New Delhi, fostering closer ties between the two countries.

Regarding the participation of Indian companies in Kuwaiti projects, he noted that numerous Indian firms have a longstanding presence in Kuwait, executing significant projects in the oil and gas sector. He cited specific examples such as the construction of Sabah Hospital and Shaddadiya University by Indian companies, as well as the electricity interconnection project between Kuwait and Iraq being undertaken by two Indian firms. He pointed out the ongoing activities in the information technology sector, including a substantial IT contract between Burgan Bank and an Indian company. Dr. Swaika also mentioned a strategic focus on pharmaceuticals, real estate, and food processing, noting that two to three Indian companies have registered with the Kuwait Investment Authority. He highlighted that several Indian pharmaceuticals are already registered in Kuwait, yet acknowledged that the overall market share of Indian pharmaceuticals remains relatively low given India’s status as the “pharmacy of the world.”

He expressed a desire to attract major Indian pharmaceutical companies to Kuwait, noting that 40 to 50 percent of Indian pharmaceutical products are registered with the US Food and Drug Administration and approved by European regulatory agencies, offering high-quality products at significantly lower costs. Dr. Swaika emphasized India’s emergence as a hotspot for global investment, with an impressive growth rate of seven to eight percent over the past decade. He cited investment infl ows of $70 billion last year, bringing total investments in India over the last decade to over $600 billion. This remarkable growth positions India as the fifth-largest economy in the world, with aspirations to become the third-largest economy in the near future.

Speaking of the Indian workforce in Kuwait, Dr. Swaika reported that the number has surpassed one million. He emphasized the positive reception of recent regulatory changes, particularly the easing of restrictions on family visas, which has been warmly welcomed by Indian families in Kuwait. He highlighted that a diverse array of skilled Indian professionals, including doctors, engineers, and nurses have made their way to Kuwait. He expressed optimism about a growing culture of compliance with Kuwaiti regulations among the Indian community. He also expressed anticipation for the upcoming visit of the Kuwaiti Foreign Minister to participate in the inaugural meeting of the Joint Higher Committee, which has recently been elevated to the ministerial level.

On the cultural front, Dr. Swaika announced several encouraging developments, such as the launch of a Hindi language program on Kuwait’s national radio. He also shared that a memorandum of understanding has been signed with the Gulf University of Science and Technology to offer Hindi language courses, with plans to have an Indian professor by the end of this year to facilitate classes starting in the next academic term. He also disclosed plans for a significant B2B tourism event scheduled for early next month and spoke of the Plant- 4Mother initiative, which was launched by Prime Minister Modi on World Environment Day. This initiative encourages individuals to plant a tree in honor of their mothers.

, Dr. Swaika mentioned an upcoming major musical event in November featuring a prominent Indian musician and expressed his enthusiasm for a startup conference set for December. This conference aims to share success stories from both Kuwait and India and explore investment opportunities within the burgeoning startup sector.

By Paulo Francisco X. Fernandes

Arab Times/Al-Seyassah Staff