[Goanet] India welcomes investments from Kuwait – seeks cooperation in Fertilizer Sector

[Goa's Pride www.goa-world.com]

India welcomes investments from Kuwait – seeks cooperation in Fertilizer Sector 




19:9 IST 



Shri Kamal Nath, Union Minister of Commerce & Industry, during the bilateral 
interaction with Mr. Mustafa Jassim Al-Shamali, Minister of Finance of Kuwait 
who called on him here today has welcomed investments from Kuwait in sectoral 
developments in infrastructure, power and petroleum & petrochemicals and stated 
that India seeks Kuwaiti participation in revival of Indian fertilizer industry 
besides seeking investments in the fertilizer sector in Kuwait and in third 
countries. 

While highlighting the impressive economic growth in India, Shri Kamal Nath 
informed the Kuwaiti Minister to utilize this opportunity to witness some of 
the significant steps taken by Government of India towards its economic 
progress. Both sides noted that non-oil trade between two sides has enhanced 
considerably i.e., US $ 958.41 million in 2007-08 and hoped to multiply this in 
the coming years. Both sides discussed about the potential items of import and 
exports viz., IT, leather goods, precision instruments, drugs & 
pharmaceuticals, steel & steel products, tourism etc. 

India’s exports to Kuwait during the period April 2007-February 2008 amounted 
to US $ 589.78 million. The top 5 items of exports from India were: rice 
(basmati), machinery & instrument, meat & preparations, manufactures of metals 
and primary & semi-finished iron & steel. The top 5 items of imports by India 
were: petroleum & crude products, organic chemicals, metaliferrous ores & metal 
scrap, sulpher and unroasted iron pyrites and fertilizers manufactured. 

The total cumulative FDI inflows to India during August 1991 to March 2008 are 
US $ 79.2 billion, inflows from Kuwait are US $ 9.02 million. 

******** 

RJ/MRS 
 
 
- Forwarded by www.goa-world.com