India and Kuwait bilateral trade crosses US$ 17.63 billion

New Delhi: The Indian community in Kuwait has contributed to the latter's development and to bilateral relations between the countries. The bilateral trade between the two nations crossed US$ 17.63 billion during 2012-13, as per Mr Satish C Mehta, Indian Ambassador to Kuwait.

Both the countries believe that more is possible in every dimension of the relationship on back of close and friendly political, economic and trade, cultural, and people-to-people linkages, said Mr Mehta.

Infrastructure is the backbone of India’s economic development. It has invested about US$ 500 billion in infrastructure during the Eleventh Five Year Plan, which ended on March 31, 2012. "In the current Five Year Plan (2012-17) we aim to invest US$ 1 trillion in infrastructure alone. New roads, railway lines, ports, airports, metros and power plants are springing up all over the country to support a renaissance in manufacturing,” said Mr Mehta.

Kuwaiti investments in India stood at US$ 2.5 billion, Mr Mehta added. To explore new avenues of cooperation, Mr Sheikh Nasser Sabah Al-Ahmad Al-Sabah, Minister for Amiri Diwan Affairs, Kuwait, visited India in March 2013, followed by visits of Mr Montek Singh Ahluwalia, Deputy Chairman, Planning Commission and Mr E Ahamed, Minister of State for External Affairs, Government of India, in July 2013.