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ShareBy Sajeev K Peter
KUWAIT: The bilateral investment cooperation between Kuwait and India is growing with greater Kuwaiti investments in India as well as an increasing presence of Indian companies in Kuwait, said Indian Ambassador Dr Adarsh Swaika on Monday. Addressing a reception hosted by the Indian Embassy, Kuwait at the Crowne Plaza on the occasion of India’s 75th Republic Day celebrations, the Ambassador said, the Kuwait-India bilateral relations cover a wide spectrum of areas and the leadership of both countries highly values the importance of this multifaceted relationship.
Deputy Foreign Minister Sheikh Jarah Jaber Al-Ahmad Al-Sabah attended the event as the chief guest in which a large number of Kuwaiti dignitaries, resident ambassadors and diplomats and members of Indian community participated. “When it comes to our bilateral relations with the State of Kuwait, they are indeed historical and time-tested. Trade and people-to-people linkages have been the edifice of our close ties,” the Ambassador said. Dr Swaika said India is among the top three bilateral trade partners of Kuwait. He also expressed gratitude to His Highness the Amir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah and His Highness the Prime Minister Dr Mohammad Sabah Al-Salem Al-Sabah for their patronage and support for a strong India-Kuwait partnership.
“We are seeing a diversification in our trade basket as well. Many Indian companies have executed, are executing and look forward to executing large-scale infrastructure projects in Kuwait,” he pointed out. He also spoke about the collaboration in the field of education. “There are 26 Indian schools currently in Kuwait with an enrollment of over 60,000 students. The strong and vibrant Indian community in Kuwait of approximately one million is a living bridge between the two countries. We look forward to further strengthening of our special partnership with Kuwait under the guidance of the new leadership of Kuwait,” the Ambassador said.
Jan 26, 2024 marked the diamond jubilee of India’s Republic Day celebrations, a historic milestone in India’s journey since it was on this very day in 1950 that the constitution of India came into effect, he said. “The Indian constitution embodies the principles of equitable development, democracy, pluralism, secularism, principles of natural justice etc for which the country stands for,” he added.
Giving a snapshot of the India’s developmental story, he said India is now the world’s most populous country with 65 percent of the population under 35 years of age. “It is the 5th largest economy and poised to become the third largest by 2027-28; It has a GDP of $3.75 trillion with exports reaching $776 billion in 2023. India has become a preferred foreign investment destination with $615 billion FDI in the last nine years, including $71 billion in 2023. India has world’s 3rd largest startup ecosystem -- 111 unicorns with total valuation of $350 billion. The country is also the global pharmacy of the world, the Ambassador said. He said India is on track to become $1 trillion digital economy by 2025. Projecting India’s economic growth, he said the country will become a $32 trillion economy by 2047.
Talking about India’s foreign policy, he said, India’s ‘Vishwa Mitra’ initiative is designed to foster closer global cooperation and understanding and aligns with India’s ancient belief of ‘Vasudhaiva Kutumbakam’ (the world is one family). “We were happy to welcome Kuwait in the SCO family as a dialogue partner during our G20 presidency, he added.
