India invites 'trusted partner' Kuwait to invest under Aatma Nirbhar Bharat initiative

Indian Union Minister of Petroleum and Natural Gas, Dharmendra Pradhan, on October 12 said that the nation sees Kuwait as an important and trusted partner in achieving energy security. Pradhan, who is on a two-day visit to the Gulf country, met with Kuwaiti oil minister Khaled Ali Al-Fadhel and invited him to invest in India as part of the 'Aatma Nirbhar Bharat' initiative. In a series of tweets, the Indian Ministry of Petroleum and Natural Gas called India-Kuwait’s relations as ‘historic’ and said that the nation will continue to progress for mutual benefit. 

READ: India Sends Oil Minister Pradhan To Kuwait To Offer Condolences On Demise Of Former Emir

On Monday, the two nations discussed how to enhance energy partnership, including two-way investments in the oil and gas sector. Pradhan embarked on the two-day-visit to Kuwait to offer condolences to the Kuwaiti leadership on the passing away of the former emir Sheikh Sabah al-Ahmed al-Jaber al-Sabah last month. The Union Minister delivered letters from President Ram Nath Kovind and Prime Minister Narendra Modi to the new leadership of the oil0rick Gulf nation. 

READ: PM Modi Congratulates New Emir, Crown Prince Of Kuwait; Hopes To Strengthen Ties

India-Kuwait relations 

Both countries continue to take forward their ‘historic relationship’ in diverse areas. Kuwait is an important country for our nation in the Gulf region as it is India’s sixth-largest crude oil supplier. The Indian community with a strength of around 10 lakh is the largest expatriate community in Kuwait. The Indian community in the Gulf nation is also regarded as the community of first preference among the expatriates. 

Professionals including engineers, doctors, chartered accountants, scientists, management consultants; technicians and nurses; retail traders and businessmen are present in Kuwait, however, a large proportion consists of unskilled and semi-skilled workers. Moreover, Kuwait’s Sovereign Wealth Fund (SWF) is reported to have invested nearly $2 billion in India since 2017, taking the total investment in the country to $5 billion. 

Last week, Modi, while congratulating the new emir, had also expressed confidence that Kuwait would continue to “play an important role” under the new leadership. In addendum, he also talked about strengthening “historical friendship” between Kuwait and India under the new Emir. 

(Image: @PetroleumMin/Twitter) 

READ: Kuwait's New Crown Prince Takes Oath Before Parliament

READ: Kuwaiti Emir Sheikh Nawaf Recommends Deputy Guard Chief's Name As New Crown Prince