Kuwait has been invited to expand its investment and contribute to the India growth story. Addressing a gathering in Kuwait City, the Planning Commission Deputy Chairman, Montek Singh Ahluwalia said that the investment climate in India has improved with a series of measures announced by the Government. He said that sovereign wealth funds can now put their money in the projects in India as the process has been simplified and made investor friendly. Mr. Ahluwalia made specific mention of around 30 projects on Built-Operate-Transfer, BOT basis in the infrastructure, roads network, metro, fertilizers etc. for investment in India. He said that these projects are risk free and investment returns around 13-14 percent are guaranteed. The Deputy Chairman of the Planning Commission said the bilateral trade between the two countries is on the positive side and has scope for further expansion. India-Kuwait bilateral trade in 2011-12 was worth $17.56 billion while Kuwaiti investment in India was around $2.6 billion. In addition, the two countries have granted the Most favored nation status, MFN to each other. During his visit, Mr. Ahluwalia met the Kuwaiti Deputy Prime Minister, the finance Minister Mustafa Al Shamli and Minister of Amiri Diwan Sheikh Nasser Sabah Al Ahmad.
News On AIR | July 3, 2013 12:16 PM
Montek in Kuwait; asks Gulf State to invest in India growth