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Indian official seeks to lure Kuwaiti investment
October 11, 2016, 1:56 pm

A senior Indian official from the Western state of Gujarat called on Kuwait's private sector on Monday to invest in his country's petrochemical industry, adding that India is eyeing enhanced commercial ties with Kuwait.

In a statement to KUNA, Chief Secretary of the Government of Gujarat Dr. Rajeev Kumar Gupta noted that India's economy had grown by seven percent last year, exceeding the expectations of international institutions.

Moreover, he revealed that India will impose a new tax system that could help lure foreign investment in the world's second most populous nation.

The Indian official also spoke of his meetings with representatives of Kuwait Petroleum Corporation (KPC) and the Ministry of Commerce and Industry, adding that Gujarat is the capital of India's petrochemical industry. Meanwhile, Kuwait Chamber of Commerce and Industry (KCCI) official Tharar Al-Ghanim said that Kuwait values its economic ties with India and that KCCI will expand its efforts to strengthen relations between the two countries. Gupta is accompanied by a delegation comprising 16 officials from various industries across India. 

Source: KUNA

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