(MENAFN - Kuwait News Agency (KUNA)) The volume of trade exchange between Kuwait and India is expected to grow significantly in the upcoming years, as last year's trade volume figures reached USD 6.8 billion, an Indo-Arab cooperation committee chief said on Sunday.
The volume of Indian exports to Kuwait last year reached USD 588 million, while imports amounted to USD 6.2 million, Chairman of the Indo-Arab Socio-Cultural Organization (IASCO) Ameer Al-Deen Labba told KUNA on Sunday.
He mentioned that the number of Kuwaiti tourists who visited India last year exceeded 9,000, expecting an increase in the coming holidays.
The majority of direct Kuwaiti investments in the Indian market are done through international investment companies, Labba said, noting that Kuwait Investment Authority (KIA) is interested in investing in sectors of Indian infrastructure, energy, financial services, real estate and information technology.
He said KIA has a financial portfolio to invest in Indian Securities Market through a number of world portfolio managers and investment funds.
With regard to the state of Kerala, which will host a traveling exhibition, that is held between 27 to 30 of September of every two years, he said that the state encourages foreign investment in various sectors, indicating that the anticipated fourth Kerala Emerging meeting will provide a number of
opportunities and investment options.
In addition, Labba called on Kuwaitis to invest in India in general and the state of Kerala specifically - which he said is famed for its alternative medicine - particularly in the infrastructure sector due to the state's need to invest in "good" projects in this sector.
Furthermore, he said that the number of Kuwaiti tourists in Kerala, mostly medical tourists, reached 2,816 in 2012.
IASCO, sponsored by Sheikha Rasha Al-Sabah together with the Indian Embassy in Kuwait, was founded in 2000, and is expected to send a delegation to visit the Travel Expo in Kerala (Kerala Travel Mart 2012), which includes a number of eminent personalities, media representatives and industry, travel and tourism practitioners.
The organization aims at supporting dialogue and cultural exchange between Kuwaitis and Arab residents in Kuwait, as well as promoting the concept of sustainable development in the Indian tourism sector.