Aiming to shore up the infrastructure sector in the country, India is pitching in for investments from Kuwait.
Vice-President Hamid Ansari — on a three-day visit to Kuwait — held preliminary discussions on the subject with the Amir of Kuwait, Sheikh Sabah al-Ahmed, and is scheduled to have an interaction with the captains of the Kuwait Chamber of Commerce and Industry on Tuesday.
It’s estimated that India needs investments worth $500 billion over the next five years to boost the infrastructure sector.
“Much before the trends of the global recession started coming in, India had been seeking to promote investments from Gulf
countries, including Kuwait, in the infrastructure sector. At this stage, this is certainly a high priority area,” Ansari said on board a special aircraft.
During the Vice-President’s visit — the first high-level Indian visit to Kuwait since 1981 — three agreements are scheduled to be signed for promoting mutual cooperation in the spheres of education, science and technology and culture.
Ansari will also be conveying India’s concerns on energy security issues. Currently, Kuwait meets 12 per cent of India’s oil requirements.