Kuwait Hosts A 20-member Indian Business Delegation

A 20-member delegation from India visits Kuwait to explore trade opportunities between the two countries. The team under Federation of Indian Export Organizations (FIEO) aims to network and explore new business opportunities, with the support of the Embassy, in order to strengthen the bilateral trade and economic ties between Kuwait and India.

Indian Business and Professional Council (IBPC) and the Embassy of India, Kuwait organized a business and networking event at the Embassy premises on Sunday, 17 October.

Among the sectors represented by the delegation are Cereals & Agri-Products, Fabrics, Apparels & Clothing, Organic Chemicals, Iron & Steel, Plastic Articles, and Electrical Machinery & Automotive Spare Parts.

During the event, in his inaugural remarks, First Secretary (Commerce) Dr. Vinod Gaikwad welcomed the delegation on behalf of Ambassador of India to Kuwait HE Shri Sibi George. He highlighted the multifaceted relationship with excellent political relationship, growing business partnership and deepening people to people connect between India and Kuwait. He said that India is the

fastest growing economy and recently India became the fifth largest economy in the world surpassing UK with a new record of over $ 400 billion of good exports in 2021-22.. He also shared the highlights of a letter addressed to Ambassador HE Shri Sibi George by Commerce Secretary of India Shri BVR Subramanyam and quoted “Let me congratulate you and your team at the Embassy for the excellent achievement of exports of US $ 1,236.8 million (over $ 1.23 billion) to Kuwait in 2021-22. The growth of exports to Kuwait was broad based and part of the overall achievement of US $ 419 billion of merchandise exports from India in 2021-22 which was a record in itself. This total growth of 44% over 2020-21. The contribution of your Mission helped the nation in a stellar performance which helps India’s economic growth and sets it on the path to be a US $ 5 trillion economy’’. He thanked all stakeholders like export promotion councils, chambers of commerce and industry, Indian Business Network (IBN) in Kuwait, Indian Business and Professionals Council (IBPC) and business houses in Kuwait and India which help in promoting bilateral business engagement.

The head of the FIEO delegation, Mr. Paresh Kantilal Mehta, during his address mentioned that FIEO being an apex body of all trade promotion organizations and commodity boards in India plays a very significant role in creating a suitable platform for Indian Exporters to showcase and market their products and services globally. With that aim, the delegation to Kuwait is organized under a theme ‘Not Just Building Business, it’s all about Creating Relations’. He highlighted that with the pivotal change in the Business Environment, FIEO has taken a milestone step ahead to develop one of its kind Online Business Portal for Indian Business Entities across various sectors. The Indian Business Portal, is not just a Business Trading Portal but it also offers a large spectrum of options for Business Engagements such as Joint Venture, Partnerships, Investments etc.

During the event, a detailed presentation was given by Ms. Anchita Kethwas, Second Secretary (Commerce) highlighting the various trade opportunities and economic potential of the Kuwaiti market. Shri Kaizer Shakir, Vice Chairman of Indian Business Promotion Council (IBPC) presented a overview of opportunities available for Indian exporters in the Kuwaiti market. A presentation showcasing the business profile of the FIEO delegates was also shown on the occasion.

Following the inaugural event, the FIEO delegates and Kuwaiti businessmen conducted one-on-one business interactions, which provided a platform for effective business interactions between the participants. Kuwaiti and Indian businessmen participated actively in the networking event.

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