KUWAIT: Indian Prime Minister Narendra Modi said on Saturday that trade and commerce have been important pillars of bilateral relationship between Kuwait and India, with two-way trade increasing. "Trade and commerce have been important pillars of our bilateral relationship. Our bilateral trade has been on an upswing. Our energy partnership adds a unique value to our bilateral trade,” the Indian prime minister said in an interview with KUNA.
The Indian prime minister arrived in Kuwait on Saturday in the first visit by an Indian prime minister to Kuwait in over four decades. "We are happy to see ‘Made in India’ products, particularly in automobile, electrical and mechanical machinery, and telecom segments making new inroads in Kuwait. India today is manufacturing world-class products at the most affordable cost. Diversification to non-oil trade is key to achieving greater bilateral trade,” he said. He added there is considerable potential to expand bilateral cooperation in the pharmaceutical, health, technology, digital, innovation and textile sectors, urging business chambers, entrepreneurs and innovators must engage and interact with each other more. On his visit to Kuwait, he said: "I am delighted to visit Kuwait. I thank His Highness the Amir of Kuwait Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah for his gracious invitation. This visit holds special significance. It marks the first visit by an Indian Prime Minister to Kuwait in over four decades.”
"I thank His Highness for inviting me to attend the inauguration of the Arabian Gulf Cup. This is an honor for me. I extend my best wishes for successful hosting of the tournament,” he said. The Indian prime minister went on saying that India and Kuwait share a deep and historic bond and the relationship between both countries has always been one of warmth and friendship and that the crosscurrents of history and exchanges through ideas and commerce have brought people close and together.
Cultural connect
"We have traded with each other since times immemorial. The discoveries in Failaka Island speak of our shared past. The Indian rupee was a legal tender in Kuwait for over a century till 1961. This shows how closely our economies were integrated,” Modi said. He noted that India has been a historic trading partner of Kuwait and continues to be so in contemporary times and that people-to-people linkages over centuries have fostered a special bond of friendship between the two countries. "Overall, the bilateral ties are progressing well and if I could say, scaling new heights. I eagerly look forward to my talks with His Highness the Amir to elevate our ties in various areas including defense, trade, investment, and energy,” he said.
"The strong roots of our historical ties must be matched by the fruits of our 21st century partnership — dynamic, robust and multifaceted. There is a lot we have achieved together, but possibilities are limitless for our partnership. I am sure this visit will give new wings to it,” Modi stressed.
The Indian prime minister noted that Indians are the largest expatriate community of over a million in Kuwait and India is among the top trading partners of Kuwait and many Indian companies are executing infrastructure projects and offer services in multiple domains in Kuwait. He said that Kuwait Investment Authority has made substantial investments in India and there is a growing interest in investing in India now, adding that bilaterally and multilaterally, there has been a good understanding of each other’s interests. Modi boasted that his country is currently amongst the fastest-growing large economies in the world, as in less than a decade it has moved from being the 11th largest to the 5th largest economy in the world, and is poised to become the 3rd largest economy soon.
Investment opportunities
Modi believed that this growth creates immense opportunities for investment across a variety of sectors and that the pace of infrastructure development in India is extraordinary, be it expressways, railways, airports, ports, energy grids or digital connectivity.” Over the last decade, we have doubled our airports from 70 in 2014 to over 150 in 2024. In the next five years, 31 Indian cities will be serviced by metro transport systems. The number of education and skill development institutions has also doubled since 2014, reflecting a strong focus on human capital development. This is supported by a favorable demography and a highly skilled workforce,” he said. "Digital economy and services are increasing productivity, ushering efficiency and creating new consumer demand. Almost 50 percent of all global digital payments are happening in India. Technology is changing the face of the Indian economy, from drones to green hydrogen,” he added.
"Our political stability, policy predictability and reform-oriented business approach has made India a magnet for global investment, manufacturing, and supply chain. The Indian growth story is attracting global manufacturers — from semiconductors, aircraft, drones to e-vehicles - to set up shop in the country,” he said.
Synergetic transformation
On his government’s vision to transform India into a developed country by 2047, he said: "Our vision and that of 140 crore Indians, is to see India as a developed country by 2047, when we will be celebrating 100 years of our independence. We are striving to accelerate growth in all sectors to improve the living standards of our people. We are building an India where the physical and social infrastructure is world class, and all citizens have an opportunity to excel.”
"We are committed to leapfrog in our development cycle to uplift every Indian into a higher development trajectory. The results are there for all to see. In the last ten years, we have pulled 250 million people out of poverty. We are also ensuring that all our regulations and laws are as per global standards so that investors feel at home,” he said.
Modi continued saying: "Similarly, I am told that Kuwait Vision 2035 focuses on transformation of the country by making the country an economic and connectivity hub. I also understand that many infrastructure projects from airport terminal to seaport to rail link, electricity transmission, renewable energy projects, and special economic zones are in the pipeline.” However, he said there is a lot of synergy in both sides’ visions which align on many fronts as the tremendous pace of economic activity in both countries open large opportunities for the two governments and companies to cooperate and collaborate.
He pointed out that Kuwait and India have a much wider partnership in many areas, apart from the traditional energy sector partnership, including education, skilling, technology, and defense cooperation. "A number of Indian companies are already engaged in execution of infrastructure projects in various sectors in Kuwait. Similarly, we are seeing investments from Kuwaiti companies in India. It is a mutually beneficial partnership in a true sense,” he said.
Responding to a question about how India’s soft power can influence its global outreach, he said India’s civilizational ethos and heritage form the foundation of its soft power. He added that its soft power has grown significantly alongside its expanding global presence, particularly over the last decade. ”In Kuwait and the Gulf, Indian movies stand out as a prime example of this cultural connection. We have seen that people in Kuwait have a special liking for Indian cinema. I am told that there are three weekly shows on Kuwait Television on Indian movies and actors,” he said.
"Similarly, we share several attributes in our cuisine and culinary traditions. Centuries of people-to-people contact have also resulted in linguistic similarities and shared vocabulary. India’s diversity and emphasis on peace, tolerance and coexistence resonate with the values of Kuwait’s multicultural society. Recently, a Kuwaiti scholar translated Ramayana and Mahabharata in Arabic,” Modi stressed. The Indian prime minister boasted that the Indian community acts as a living bridge between the two countries, fostering a deep appreciation for Indian philosophy, music and performing arts. He expressed pleasure to learn that a weekly Hindi language program has been started by Kuwait national radio titled ‘Namaste Kuwait’ this year.
Earlier, Modi and his accompanying delegation were received at Kuwait International Airport by First Deputy Prime Minister, Minister of Defense and Minister of Interior Sheikh Fahad Al-Yousef Al-Sabah, His Highness the Prime Minister’s Diwan Chief Abdulaziz Al-Dakheel, Minister of Foreign Affairs Abdullah Al-Yahya, Advisor at His Highness the Prime Minister’s Diwan and Chief of the Accompanying Mission of Honor Sheikh Dr Basel Humoud Al-Sabah, Assistant Foreign Minister for Asian Affairs Ambassador Sameeh Hayat and Kuwaiti Ambassador in India Meshal Al-Shemali. — KUNA