Indian embassy, CAPEXIL hold BSM
Event aims to boost Indo-kuwait trade deals
KUWAIT CITY, March 3: The Embassy of India, Kuwait, in association with the Chemical and Allied Products Export Promotion Council (CAPEXIL), an apex organization set up by the Ministry of Commerce, Government of India to promote export of chemical and allied products from India, inaugurated the BuyerSeller Meet (BSM) at the Kuwait Chamber of Commerce and Industry (KCCI) in downtown Kuwait City.
His Excellency the Ambassador of Indian to Kuwait Satish C. Mehta and Fahad Yacoub Al Jouaan, Board Member of KCCI jointly cut the ribbon to declare open the BSM.
Speaking on the occasion, Ambassador Mehta thanked the KCCI for welcoming the Indian delegation and providing “this opportunity at the KCCI to interact with you and the Kuwait’s business community.”
He said CAPEXIL, which has a significant share of about 10 percent in India’s total exports, has been sponsoring the visit of Indian delegation to Kuwait regularly for many years.
CAPEXIL, he added, deals in mineral and non-mineral sectors. The 11-member Indian delegation, comprises of Indian manufacturers and exporters of SAWN timber, commercial ply woods, marine ply woods, flush doors, film-faced BWP plywood, granite, sandstone, limestone, slates, polished granite slabs, tiles and other granite products, calendars, computer stationery, printed books, school note books and paper, paper products, paper cups, tissue paper products for corporates, hotels, restaurants, households, etc. They seek to enter into mutually beneficial trade deals with their counterparts in Kuwait.
India and Kuwait enjoy traditionally friendly and historic relations. Geographic proximity, historical trade links, cultural affinities and presence of a large number of Indian expatriates con- tinue to sustain and nurture this long standing relationship. They are present in almost all sectors in Kuwait, he asserted.
He went on to say, historically, IndiaKuwait relations have always had an important trade dimension. India’s total trade with Kuwait during 2011-12 was $17.56 billion, an increase of about $5.4 billion (which is 44.3 percent) over $12.16 billion during 2010-11. Out of the total trade of $17.56 billion, non-oil trade accounted for approximately $1.9 billion (approx). India’s exports to Kuwait during 2011-12 were $1181.41 million. For the second consecutive year, India’s exports to Kuwait were over $1 billion mark. More is possible and desirable.
The major items exported from India cover a broad range including food items, cereals, textiles, garments, electrical and engineering equipment, cars, trucks, buses, tyres, chemicals, jewelry, handicrafts, metal products, to name a few.