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Message of HE Mr. Ajai Malhotra,
Ambassador of India to Kuwait, on the occasion of the Republic Day of
India
On the 61st Republic Day of India, I thank our dear and esteemed Kuwaiti
friends for their good wishes and extend warmest congratulations to
every member of the Indian community in Kuwait.
On this historic day in 1950, the Constitution of India came into force
and independent India became a sovereign, secular, democratic Republic.
Reflecting the vision and wisdom of the founding fathers of the Indian
republic, the Constitution secured to all Indians justice, liberty,
equality and fraternity. We are proud citizens of the largest, most
diverse, and vibrant democracy in the world.
While a developing country, India is also a US$1.2 trillion economy with
one of the highest growth rates in the world. On the basis of Purchasing
Power Parity, the Indian economy is the fourth largest in the world,
with strong macro-economic fundamentals and a stable balance of payments
position. India is among the world's youngest nations, with 55% of its
population below the age of 25. This creates a solid human resource base
for powering our prosperity. India also has the second largest arable
land area and is one of the largest food producers in the world. It is
the preferred destination for companies looking to offshore their IT and
back-office functions. Its banking system, with 70,000 branches, is
among the most extensive in the world. With the largest number of listed
companies – over 10,000 across 23 stock exchanges - India has the third
biggest investor base in the world. Indian stock markets were amongst
the best performers globally in 2009. India’s foreign exchange reserves
are over $280 billion.
With a large middle class, diversified industrial base, abundant raw
materials, huge scientific and technical manpower reserves, and creative
and dynamic entrepreneurs, India is an attractive destination for
business and new investments. It is a software powerhouse, offering many
advantages as a global sourcing hub, especially for IT enabled services
and business process outsourcing. Moreover, the Indian economy is based
on solid institutions, including well capitalized and prudently
regulated banks. Despite an inadequate monsoon and the global economic
crisis, India achieved a robust 7% growth in 2009. In fact, India not
only weathered the global economic crisis well, but emerged as an anchor
of global economic stability. With a domestic savings rate of 35%, India
should be able to soon revert to a sustained 9-10% growth path.
India is also implementing an ambitious programme of investment in key
infrastructure sectors: power, roads, ports, airports, irrigation,
telecommunications, and urban infrastructure. Private investment has a
large and growing role to play in this. India is following a strategy of
private-public partnership in many areas and seeks domestic and foreign
private investment for its infrastructure sector development. India’s
investments in the infrastructure sector alone will top US$ 500 billion
over the next five years, with India increasing its energy supply by
three to four times and its power capacity by five times.
India stands out as one of a few countries where substantial growth is
taking place and where profits are to be made. Several recent studies
have highlighted the attractiveness of India as an investment
destination. It has one of the most liberal and transparent policies on
FDI among emerging economies. UNCTAD's World Investment Report 2008
rates India as the second most attractive FDI destination. In addition
to FDI we welcome portfolio investment in equity in Indian companies by
qualified institutional investors. It would be timely to seriously
consider investing surplus liquidity into the infrastructure, energy and
other sectors in India. The government has created a favorable climate
for foreign investors to invest in India by relaxing procedures for
entry and I would urge businessmen and others to take advantage of this
situation.
In turn, India has become a major source of investment abroad. Many
Indian companies have reached out overseas, through mergers and
acquisitions or direct investments, in order to access high-growth
markets, technologies and knowledge, attain economies of size and scale,
and leverage international brand names.
While India’s stature is growing with each passing year, we are
intensely aware that vast challenges remain, especially in eradicating
poverty and disease, illiteracy and ignorance. India has undertaken an
ambitious programme for social and economic transformation of its
citizens on the margins of its growth story. India is pursuing caring
and inclusive growth as it invests in sectors like education, health and
sanitation, care of the elderly and disabled, employment generation and
village modernization.
As regards its foreign policy, India will continue to pursue its
enlightened national interest, maintaining the strategic autonomy and
independent decision-making that has been its hallmark. Its overriding
priority is to secure India’s economic transformation and development in
an atmosphere of peace and security. As a responsible member of the
international community, India will work with other countries to tackle
issues of common interest and concern, such as international terrorism,
the global economic crisis, climate change, energy security, food
security, and the reform of multilateral institutions to reflect
contemporary realities.
For over three decades India has been at the forefront of the fight
against terrorism, which no cause can ever justify. India has always
unequivocally condemned it in all its forms and manifestations. It
believes that early adoption by the UN General Assembly of the
Comprehensive Convention on International Terrorism will send a strong
signal of international unity in confronting this evil.
The Gulf region, with which India has a long-standing friendship, is a
special focus of India’s foreign policy. The GCC countries are amongst
India’s largest trading partners, the dominant source of India’s energy
requirements, and home to over five and a half million Indians.
Close and friendly contacts between India and Kuwait go back several
centuries. An important part of each other’s extended neighbourhood, our
ties were consolidated by the continuous intermingling of our peoples
and civilizations. They extend beyond historical and cultural linkages
to encompass significant political, trade and economic interests.
India-Kuwait annual trade exceeds US$ 10.5 billion, including over US$ 8
billion of crude oil exports from Kuwait to India. This constitutes
11-12% of India’s annual oil import requirements and makes Kuwait a
significant partner in India’s quest for energy security. India and
Kuwait are exploring expanded cooperation in areas like hospitality, IT,
manpower development and health tourism, besides traditional sectors
like food, petroleum, petrochemicals, pharmaceuticals, and
infrastructure.
High-level exchanges provide an opportunity to reaffirm friendships and
explore new cooperation avenues. The official visit to India in 2006 by
HH Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, Amir of Kuwait, gave fresh
momentum to our bilateral ties. The official visit to Kuwait in April
2009 of the Vice President of India, Hon’ble M. Hamid Ansari, reaffirmed
our traditionally close bonds of friendship. Bilateral agreements on
scientific and technological cooperation, education and learning
cooperation, and cultural and information exchanges, were signed during
that visit. In October 2009, the Indian Minister of State for Tourism
and the Minister of Health of the State of Kerala were in Kuwait for an
Indian tourism promotion event with a special focus on health tourism. A
“Festival of India in Kuwait” followed in November 2009, in which 130
artistes from India provided a glimpse of its rich and diverse cultural
heritage. Inter-governmental Working Groups on Hydrocarbon and on Labour,
Employment and Manpower Development, were convened in Kuwait in December
2009 and January 2010 respectively. The Joint Ministerial Commission for
Trade, Economic, Scientific and Technological Cooperation will soon meet
in Kuwait and we expect more high-level interactions this year as we
seek to boost our ties to a qualitatively new level.
An Indian community of 600,000 in Kuwait adds an important dimension to
our ties. It is the largest expatriate community in Kuwait and has
earned a reputation for being disciplined, hard working, talented and
law-abiding. Its contribution to the development and prosperity of
Kuwait, and to that of its members and their families, is noteworthy. I
take this opportunity to express gratitude for the care and benevolence
bestowed on the Indian community here by HH Sheikh Sabah Al-Ahmed Al
Jaber Al-Sabah, Amir of Kuwait, and for the goodwill of the friendly
people of Kuwait.
To keep pace with our expanding bilateral interaction and the growing
size of the Indian community, the Embassy outsourced its passport and
visa services in May 2009 and the convenient new timings and locations
have proved beneficial. We are also continuously enhancing the welfare
support available to Indians in Kuwait. The “Indian Workers Welfare
Center”, established by the Embassy in September 2009 by re-grouping and
expanding its services on offer, incorporates a labour complaints
redressal mechanism, accommodation and all other facilities for domestic
workers in distress, a systematic work contract attestation system, an
upgraded free legal advice clinic, a toll-free 24x7 telephonic helpline
for Indian domestic workers, and a Help Desk to guide all Indian
nationals.
In conclusion, I would like to wish good health and prosperity to every
Indian in Kuwait as we commit ourselves anew to the service of our
motherland. I would also like to express my best wishes for the
continued good health and prosperity of HH Sheikh Sabah Al-Ahmed Al-Jaber
Al-Sabah, Amir of Kuwait, HH Sheikh Nawaf Al-Ahmed Al-Jaber Al-Sabah,
Crown Prince of Kuwait, HH Sheikh Nasser Mohammed Al-Ahmed Al-Sabah,
Prime Minister of Kuwait, as well as the people of the friendly State of
Kuwait.
Long live India-Kuwait friendship! Jai Hind! |
