An estimated USD 350 billion worth of infrastructure projects in both the public and private sectors in India will reportedly be needed over the coming decade, according to local industry experts.
Speaking at an interactive meeting between Kuwaiti and Indian businessmen earlier this week, Chairman of Indo-Arab Chamber of Commerce and Industries (IACCI), Sushil Jiwarajka, said that the country would need a host of projects in the coming years, including "USD 150 billion for oil and gas, USD 100 billion for the power sector and another USD 100 billion for roads, airports, ports, as well as other infrastructure related venues," according to KUNA.
Jiwarajka stressed that such projects offered huge opportunities for Kuwaiti businessmen to reap the rewards of the nation’s emerging markets. He added that Kuwait has the proper business elements to make such investments extremely lucrative, including its strategic location which would allow investors to reach other Gulf cooperation Council (GCC) nations and Iraq.
"India’s growth is fueled by both local consumption and external exports," he said, noting that over 55 percent of India’s population is currently under the age of 25, and therefore represents an extremely rich manpower reserve.
Jiwarajka added that he hoped the important meeting would stimulate face-to-face interactions between Kuwaiti and Indian businessmen so that they could exchange ideas, projects and entrepreneurial goals.
