Kuwait ambassador to India Fahad Ahmad Al-Awadhi urged increase of trade between India and Kuwait through boosting investments. He made the call while inaugurating the commercial operations of NAPESCO India, a subsidiary of NAPESCO International Petroleum Services Company (Kuwait) at Special Economic Zone of Chennai.
According to a company press release delivered to Kuwait News Agency (KUNA), the Ambassador said: "Trade links between Kuwait and India are centuries old and are getting stronger due to significant imports and exports of crude oil and other commodities. Up to 10 percent of Indian oil demand is supplied by Kuwait. I would like see more of Kuwait-Indian partnerships in all fields of business." Ambassador Al-Awadhi lauded the initiative of NAPESCO (Kuwait) for being the first private sector to start business in India as the Oil and Gas industry in Kuwait could utilize the manpower and technical skills of India.
He added that investments from Kuwait have great potential and should be encouraged in future and "it is a good step forward for the oil and gas industries as their demands are always on the raise." Chairman of the company Khaled Hamdan Al Saif appreciated, in his welcome address, the immense faith in technical skills of the Indian engineers and organizations.
CEO of NAPESCO INDIA Ramesh Babu presented the objectives of the company, its service domains and future plans. The event was attended among others by Director of Ramboll India Private Limited (oil and gas) Balaji Swaminathan and Managing Director GSH Energy, Asia Arun Kumar.