Indian envoy meets MD of Kuwait Investment Authority, discuss "opportunities for greater investments"

Kuwait [UAE], July 23 : Indian Ambassador to Kuwait, Adarsh Swaika met with the Manging Director of Kuwait Investment Authority, Ghanem Al Gheniman and had a "good follow-up conversation" on Sunday where they discussed prospect of "greater investments" from Kuwait amid growing Indian economy.
"A good follow-up conversation with MD of Kuwait Investment Authority H E Ghanem Al Gheniman. The growing Indian economy with substantial investments from across the world  offers significant opportunities for greater investments from Kuwait as well," Swaika tweeted.
As India growth is robust Kuwait wants to increase its investments in the country. India is now the fifth-largest economy in the world due to its strong economic foundations, thriving domestic demand, careful financial management, high saving rates, and favourable demographic trends.
India’s growth continues to be resilient despite some signs of moderation in growth, says the World Bank in its latest India Development Update, the World Bank India’s biannual flagship publication.
The Update notes that although significant challenges remain in the global environment, India was one of the fastest growing economies in the world. The overall growth remains robust and is estimated to be 6.9 percent for the full year with real GDP growing 7.7 percent year-on-year during the first three quarters of fiscal year 2022/23.
India was the biggest importer from Kuwait in the third quarter of the last financial year (2022-23).
Earlier this month, Swaika called on Kuwait Commerce Minister HE Mohd Othman Al Aiban and apprised him about the increasing trend in bilateral trade between the two countries.
The Indian envoy talked about the prospects for greater diversification between the two nations.
"Amb @AdarshSwaika1 called on the Commerce Minister of Kuwait H.E Mohd Othman Al Aiban. He apprised the Minister of the increasing trend in bilateral trade and prospects for greater diversification. India was the biggest importer from Kuwait in the 3rd quarter of last FY," the Indian Embassy in Kuwait stated in a tweet.
Adarsh Swaika, a joint secretary in the Ministry of External Affairs, was appointed India's next Ambassador to Kuwait in October 2022. He was appointed at a time when India and Kuwait's relationship was deepening.
Notably, the strengthening of cooperation can be attributed to the fact that the First Training Squadron (1TS) of the Indian Navy comprising INS Tir, INS Sujata and Coast Guard Ship Sarathi arrived at the Al-Shuwaikh port in Kuwait in October 2022.
Both countries enjoy friendly relations, which are rooted in history. India and Kuwait are celebrating the 60th anniversary of the establishment of diplomatic relations between the two countries in 2022. Both nations have maintained regular high-level contacts.
Kuwait stood with India during the second COVID and provided quick support in the form of oxygen and other relief material to India. An air/sea bridge was established between both countries in this regard.
Kuwait had sent a special aircraft with 282 oxygen cylinders, 60 oxygen concentrators, ventilators and other medical supplies on May 4, 2021. Indian Naval Ships, INS Kolkata, INS Kochi, INS Tarkash, INS Tabar and INS Shardul carried liquid medical oxygen in ISO tanks, oxygen cylinders, concentrators and other medical supplies to India.