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Informist, Monday, Dec. 23, 2024

 

NEW DELHI – India and Kuwait have expressed a desire to step up cooperation in the fields of exploration and production of oil and gas, refining, engineering services, petrochemical industries, and new and renewable energy, according to a joint statement detailing Prime Minister Narendra Modi's official visit to the Gulf nation.

 

At the invitation of the Amir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, the Indian prime minister paid a two-day official visit to Kuwait on Saturday and Sunday.

 

The two sides also agreed to work on finalising an investment treaty and discuss participation by Kuwait in India's Strategic Petroleum Reserve Programme, the statement said. Both sides also discussed various avenues for collaboration, including investment by Kuwaiti companies in food parks in India.

 

India welcomed Kuwait's decision to become a member of the International Solar Alliance, marking a significant step towards collaboration in developing and deploying low-carbon growth trajectories and fostering sustainable energy solutions. Both sides agreed to work closely towards increasing the deployment of solar energy across the globe within the alliance.

Recognising that India was one of the fastest growing major emerging economies and acknowledging Kuwait's significant investment capacity, the two sides discussed various avenues for investment in India.

 

Kuwait welcomed various steps taken by India in enabling a conducive environment for foreign direct investment and foreign institutional investment, and expressed interest in exploring investment opportunities in various sectors, including technology, tourism, healthcare, food-security, and logistics. Both sides recognised the need for closer and greater engagement between investment authorities in Kuwait with Indian institutions, companies, and funds.

 

The two sides signed a total of four agreements – memoranda of understanding on cooperation in the field of defence, a cultural exchange programme between India and Kuwait for 2025-2029, an executive programme on cooperation in sports in 2025-2028, and Kuwait's membership in the International Solar Alliance.

 

The defence pact aims at facilitating cooperation in coastal defence, maritime safety, and joint development and production of defence equipment, according to the joint statement.

 

While unequivocally condemning terrorism in all its forms, including cross-border terrorism, and calling for the disruption of terrorist financing networks and safe havens, both sides agreed to enhance counter-terror cooperation, information and intelligence sharing, and exchange of best practices and technologies.

 

Both sides also stressed the need for reforms in the United Nations, including of the Security Council through expansion in both categories of membership, to make it more representative, credible and effective, according to the statement.

 

The Kuwaiti leadership expressed its deep appreciation for the role and contribution of the Indian community in Kuwait to its progress and development.  End

 

Reported by Shahid K. Abbas

Edited by Avishek Dutta

 

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