Kuwait, India discuss energy, investments and labour laws

Prime Minister Manmohan Singh today held extensive talks with his Kuwaiti counterpart Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah on issues including cooperation in energy and investments as well as labour laws after which the two sides inked five pacts.
The agreements, signed after the talks between the two leaders, who were accompanied by high-level delegations, included transfer of sentenced persons and cooperation in the field of culture and education.
"Today, Kuwait is one of our most valued partners and a close friend in an important region of the world, which is critical for India's energy security, is among the biggest destinations for our exports and where more than seven million Indians work and earn their livelihoods," Singh said at a joint media event with the visiting dignitary.

Referring to the Indian workers, Singh said given that many of them are unskilled or semi-skilled workers, "I requested the Prime Minister for the continued support of the Kuwaiti leadership to ensure that the full protection of Kuwaiti laws and labour welfare measures is available to them". The Kuwaiti leader appreciated the contribution made by Indian workers in his country.
This comes in the backdrop of deportation of huge number of illegal Indian workers from Gulf countries, including Kuwait following strict implementation of their labour laws.
Noting that Kuwait was the fourth largest supplier of crude oil to India, Singh said they discussed the development of a more strategic partnership in the energy sector through long-term supply contracts on mutually beneficial terms and the establishment of upstream and downstream joint ventures in the petroleum and petrochemical sectors.

"India has proposed several specific projects for investments by the Kuwait Petroleum Corporation. I am encouraged by Prime Minister Sheikh Jaber's response and I am hopeful that we can translate some of these proposals into concrete symbols of cooperation very soon," he said.

Singh said he has also conveyed to the Kuwaiti leader that India offers attractive investment opportunities for his country in the infrastructure sector.
"Our two sides will undertake discussions on specific proposals and appropriate investment vehicles for channelling Kuwaiti investments in India. A delegation of the Kuwait Investment Authority is expected to make an early visit to India in this context," the Indian Prime Minister said.

With Kuwait having a USD 350 billion of sovereign wealth fund which is increasing by USD 25 million every year, India is hoping that the fund can be utilised towards investments in the country.