Indian Embassy organizes ‘business and networking event’
FIEO delegation to explore trade opportunities in Kuwait
KUWAIT CITY, Oct 18: The Embassy of India, Kuwait, in association with Indian Business and Professional Council (IBPC), organized a ‘business and networking event’ on October 17, 2022 at 18:00 hours at the Embassy of India premises. A multi-product 20-member business delegation from Federation of Indian Export Organizations (FIEO), is on a visit to Kuwait from Oct 16 to Oct 19, 2022 to explore trade opportunities between Kuwait and India, with the support of the Embassy, in order to strengthen the bilateral trade and economic ties between Kuwait and India.
The delegation covers the following sectors – cereals and 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.
Relationship
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 goods exported in 2021-22.
He also shared the highlights of a letter addressed to Ambassador HE Sibi George by Commerce Secretary of India Shri BVR Subramanyam who congratulated the Indian envoy and his team at the embassy for the excellent achievement of exports of $1,236.8 million (over $1.23 billion) to Kuwait in 2021-22.
The growth of exports to Kuwait, he said, 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 saying this total growth is 44% over 2020-21.
The contribution of the embassy, he said, helped India’s stellar performance which helps the country’s
economic growth and sets it on the path to be a $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, Paresh Kantilal Mehta, in his address said 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.
Presentation
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. Kaizer Shakir, Vice Chairman of Indian Business Promotion Council (IBPC) presented an 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.
After the inaugural event, a oneto-one business interaction was held between the FIEO delegates and Kuwaiti businessmen which provided a platform for an effective business interaction between the participants for tangible business opportunities. The networking event saw active participation of Kuwaiti and Indian businessmen. The event witnessed enthusiastic response from the business community in Kuwait.
More details about the event are available on the website and social media handles of the embassy.