Kuwait - Bombay Chamber of Commerce and Industry

MONTHLY ECONOMIC & COMMERCIAL REPORT FOR OCTOBER 2012
I. ECONOMIC INDICATORS
‣ The month witnessed dissolution of Kuwait Parliament and announcement of fresh
elections to be held on December 1. This will be the second election to Kuwait
Parliament within this year. In his Address to the Nation on October 19, the HH the Amir
directed the Government to bring in changes in the electoral law, following which the
Cabinet approved a decree on October 20 to amend the Electoral law reducing the
number of votes per eligible voter from four to one. The Amir said that this was
necessary to protect national unity, uphold the democratic process, ensure equal
opportunities for all Kuwaitis and achieve fair representation of society. He also warned
that demonstrations, protests and agitations would not be tolerated. The move was
strongly criticized by the Opposition, which held demonstrations leading to clashes with
the police. The Cabinet also approved other two draft laws pertaining to the formation
of a public anti-corruption authority that can gather the financial disclosures of state
officials, including the Prime Minister, Ministers, MPs, who have either been appointed
or elected into office; and draft law on setting up a National Election Commission to
elections and ensure the integrity of the process.
‣ The Central Bank of Kuwait (CBK) announced that in order to make the borrowing
cheaper it has cut its benchmark discount rate by 50 basis points to 2.0 percent, which
would be effective from October 4, 2012. The reduction came after 32 months and was
the 7 th since October 2008.
‣ CBK in its annual report for the fiscal year 2011-12 mentioned that Money Supply in its
broad definition (M2) increased by KD 1996.6 million or 7.4% to KD 29,006 million at the
end of the fiscal year, against KD 27,009.4 million last year.
‣ The Cabinet on October 1, approved the Kuwait Metro project and included it in the
state development projects. The Phase 1 of the Metro Project would comprise of
Salmiya-Kuwait City-Airport segment of 45 kms out of which about 16 kms would be
underground with 10-12 stations while rest would be surfaced with 29 elevated
stations. This would be the most important phase of metro in Kuwait with a project cost
of $ 7 billion. This would offer massive opportunities in the construction and allied
sectors.
‣ The ratings agency Fitch warned on October 29 that an upsurge in public unrest in
Kuwait could threaten the country’s solid sovereign rating. Kuwait’s sovereign external
balance sheet is the strongest of all Fitch-rated countries given its net foreign assets
estimated at $323 billion at the end of 2011 and means the country’s ‘AA’ sovereign
rating can endure further political instability. It noted that a political stalemate could
damage the Kuwaiti economy, especially execution of government projects and the
Development Plan (2010-14). Fitch projected that oil production levels and prices would
remain at a level that ensures high budget surpluses (27% of GDP expected in FY 2012-
13 and 22% in FY 2013-14, after 31% in FY 2011-12). As a result, sovereign net foreign
assets will continue to grow.
‣ Standard & Poor’s rates Kuwait’s sovereign credit at AA while Moody’s Investors Service
has an equivalent Aa2 rating. Both have stable outlooks on the credit.
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‣ The Cabinet approved the 2012-13 Budget projecting a shortfall of $26 billion, mainly
because the projections are made at a very conservative low oil prices. The Budget
projected revenue collection at KD 13.932 bn ($47.7 billion) and expenditure of KD
21.240 bn ($75.6 billion). For the last 13 years, Kuwait has been projecting a budget
deficit every year but the economy has been producing a healthy surplus which
accumulated to around $ 250 billion. In 2011-12, Kuwait achieved a record surplus of $
47 billion. The original budget projection was based on an oil price of $65 a barrel. Although
the plan assumes a budget deficit, global oil prices are currently trading well
above $100, so Kuwait is likely to post a surplus this year as well. Kuwait plans to put
25% of revenues into the future generations fund, compared to 10% at present.
‣ In Kuwait, loan growth increased by 5.4% y-o-y in August 2012 up from 4.5% y-o-y in July
2012, the strongest in 28 months as operating environment and economic activities
gradually improved. Credit facilities extended to residents stood at KD 26.6 billion in
August 2012 up from KD 25.3 billion a year ago.
‣ Inflation: According to the Kuwait Central Statistical Office, inflation rose by 1.9% in
September. The prices of food products increased by 3.8% compared to figures of
September last year.
Exchange rates:
The exchange rates between Kuwaiti Dinar and Indian Rupee/$ during October 2012
were as follows:
Crude oil prices:
Date KD/Rs.1000 $1000= KD
October 1 5.394 282.430
October 15 5.347 282.280
October 31 5.237 282.230
Kuwait Crude Oil Prices fluctuated as follows during October 2012:
Date
Per barrel
October 1 $108.07
October 5 $107.53
October 8 $106.36
October 11 $109.12
October 15 $109.37
October 23 $106.32
October 31 $106.55
2

Stock Exchange
The price index of KSE fluctuated as follows during October 2012:
Date
Price Index
October 1 5,974.68
October 4 5,995.28
October 9 5,993.19
October 14 5,982.79
October 17 5,936.36
October 21 5,729.38
October 24 5,770.34
October 31 5,769.84
II. MAJOR INVESTMENTS WITHIN AND OUTSIDE THE COUNTRY/ RELATED AGREEMENTS
SIGNED / OTHER ECONOMIC DEVELOPMENTS
Banking, Finance and Investment
‣ National Bank of Kuwait (NBK), the largest Kuwaiti bank and the highest-rated in the
Middle East, reported net profits of $814.4 million (KD 228.9 million) for the first nine
months of 2012 compared with $802.4 million (KD 225.6 million) for the same period of
2011. NBK’s Q3 net profits in 2012 reached s$384.6 million (KD 108.1 million) compared
to $280.7 million (KD78.9 million) during corresponding period of 2011 with its total
assets reaching $58.1 billion (KD 16.34 billion), up 24.5% compared to last year.
‣ Boubyan Bank (the Fastest Growing Bank in Kuwait) announced its financial results until
the end of Q3 of 2012 showing an increase of 11% in its net profit at KD 7.6 million
compared to a net profit of KD 6.9 million for the same period of last year.
‣ Ahli United Bank (AUB) reported a profit of KD 8.45 million for Q3 ending Sept 30, 2012
showing a surge as compared to a profit of KD 5.07 million during the same period
ending 2011.
‣ Kuwait Projects Company (KIPCO) has signed an MOU with the ORIX Corporation, the
biggest non-bank financial services group in Japan. The two companies intend to
establish a strategic alliance for the development of leasing and financial services in the
MENA region.
‣ Kuwait Finance House Chairman Mohammed Al-Khudairi announced that KFH has
achieved total revenues of KD 611.9 million up to the Third Quarter of 2012 with an
increase of KD 34.7 million (increase rate 6 %). Gross profits for the same period
reached KD 194.5 million that included KD 116.5 million as estimated profit for
investment depositors.
‣ Al Ahli Bank of Kuwait reported announced its net profit for the financial period ended
September 30, 2012, amounted to KD 30.4 million after taking precautionary provisions
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for unexpected difficult market conditions. Earnings per share amounted to 20 fils with
return on assets of — 1.3% and return equity of 8.1%.
Oil, Gas and Petrochemicals
‣ Kuwait’s Minister of Oil Hani Abdulaziz Hussein, on the sidelines of the inauguration
ceremony of the Integrated Digital Oil Fields Centre, an affiliate of Kuwait Oil Company,
said that Kuwait would increase its average current oil production of 3 million bpd to 3.2
million bpd in the next two years. The center would help increase oil production by 5-10
percent and would provide real-time data from the oil fields and wells. It includes
integrated systems that allow the continuous monitoring and assessment of well
performance and production. It would also enable personnel to scan closely and
accurately features of the underground traps, help in minimizing human-made errors
and enhance output.
‣ Kuwait Energy, one of the fastest growing independent oil and gas exploration and
production companies in the Middle East, which has alliance with Egypt’s General
Petroleum Company (GPC) announced a new oil discovery of Ahmad-2 well, located in
the Area A license in the Gulf of Suez, Egypt, adjacent to the Shukheir North West field.
The initial tests showed a production flow rate of 1,300 barrels of oil per day. This is the
fifth exploration success in the Area A concession, and the 19th discovery in Egypt for
Kuwait Energy since 2008.
‣ Kuwait National Petroleum Company (KNPC) said on Oct 24 that it has selected
America’s Foster Wheeler and London-based international engineering and project
management company, Amec as consultants for two mega oil projects worth around
$30 billion. Amec was awarded the consultancy contract for building a new 615,000
barrels per day refinery worth $ 15 billion at a contract value of US$ 528 million while
the Foster Wheeler company was appointed as consultant for the Clean Fuel Project
worth $ 15 bilion at a contract value of $502 million under which two of Kuwait’s three
existing refineries at Al-Ahmadi and Mina Abdullah will be upgraded which are slated to
be completed by 2018. The two projects are expected to raise Kuwait’s refining capacity
to 1.4 million bpd from the current 930,000 bpd. On completion of these projects,
Kuwait plans to close its Shuaiba refinery. Due to opposition from MPs over lack of
transparency, the refinery project was scrapped by the government around three and a
half years ago after awarding contracts to five Japanese and South Korean companies.
Logistics
‣ Kuwait Airways Corporation was declared on October 22 a shareholding company
named “Kuwait Airways Company,” capping long-time efforts to privatize the
corporation. A decree was issued by the Government to this effect.
Real Estate
‣ Kuwait’s investment real estate segment has been increasing in recent years. In 2011,
with sales of KD 995 million, it took 37% of total real estate sales, compared to a mere
13% share in 1999. For the first half of 2012, the sector’s share was about 40% and is
expected to do well in the future.
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‣ Kuwait’s construction sector is reportedly expected to grow 3.5% in 2012 with $125
billion to be spent by 2015, according to Business Monitor International. Kuwait has
always been seen as a market with significant spending budgets with good potential
within the GCC’s construction industry.
Telecommunication
‣ The Minister of Communications and Acting Minister of Social Affairs and Labor Salem
Al-Othaina adopted on October 6 a Decree authorizing Kuwait’s three mobile serviceproviders
(Zain, Viva and Wataniya Telecom) to introduce 4G LTE high-speed data
technology to their customers. The companies would operate the system via their
respective frequencies within the range of 1,800 MHz against a license fee of KD
250,000 to be paid in advance. This is a quantum leap in Kuwait’s ICT market.
‣ Viva, Kuwaiti telecoms operator, partly-owned by Saudi Telecom Co (STC), has
approached banks for a $400 million loan aimed at expanding its existing capabilities.
Launched its services in 2008, Viva had built up a 20-percent share of Kuwait’s mobile
subscribers by end-2011 while Zain and Wataniya had 41% and 39% respectively. Viva
had reportedly accumulated losses of KD 68.5 million at end-2011, exceeding 75% of its
capital.
‣ Qatar Telecom (Qtel Group) announced on that it is increasing its stake in Kuwait’s
Wataniya Telecom from 52.5% to 92.1% after closing the purchase offer to Wataniya
shareholders. Qtel, which operates in 16 countries across the Middle East, Africa and
Asia, would pay KD 519.1 million ($1.8 billion) at KD 2.6 dinars per share to raise its
stake in Wataniya.
III. MAJOR ECONOMIC & COMMERCIAL DEVELOPMENTS WITH OTHER COUNTRIES,
INCLUDING TRADING AGREEMENTS PROPOSED/ FINALIZED
India
‣ India was represented at the first Asia Cooperation Dialogue (ACD) Summit in Kuwait
from October 14-17 by the Minister of State for External Affairs & Human Resource
Development, Mr. E. Ahamed. On the sideline of the Summit, the Embassy also
participated in an Exhibition organized by the Ministry of Information of Kuwait at Hotel
Courtyard Marriott in which other Embassies of ACD member-countries also took part.
‣ Jet Airways re-launched direct flights between Kuwait and Kochi from October 18. This
will be second nonstop destination between Kuwait and India served by Jet Air. The
flight will operate four days a week. With the launch of this service, Jet Airways now
offers 15 flights a week from Kuwait to India making it the largest Indian carrier
operating from Kuwait.
‣ HDFC Ltd, India’s premiere housing finance company organized ‘India Homes Fair’, a
property exhibition exclusively for the Indians at Hotel Crowne Plaza, Kuwait on October
19-20 showcasing prime properties from all across India by over 35 renowned
developers.
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‣ An ‘Incredible India’ evening was organized on October 31, 2012 in association with
India Tourism, Dubai to promote tourism to India. Air India, Jet Airways, Kuwait Airways
and Air Arabia along with Deira Travel and Tourist Agency from Dubai and Heritage
India, a local company which deals in Indian handicrafts also participated in the event.
The event was attended by more than 90 tour operators and media representatives.
Other countries
‣ China: Asia’s largest refiner Sinopec has yet to decide whether to build a $9 billion
refinery in Southern China’s Zhanjiang by itself or in a joint venture with Kuwait
Petroleum Corporation (KPC) and Total. Sinopec and KPC signed an MOU in 2009 to
jointly build the 300,000 barrels per day (bpd) refinery and petrochemical complex in
Guangdong province. Earlier this year, KPC brought Total in to the project as a minor
stake holder. Under the plan, KPC would have 30 percent, Total 20 percent, and Sinopec
would have 50 percent. The project, one of China’s biggest foreign investments, has
been under negotiation for more than six years. China approved the joint venture
between Kuwait and Sinopec in March 2011. The project would secure Kuwait, the
world’s seventh-largest crude exporter, a stable outlet for its oil as it aims to more than
double its crude exports to China to 500,000 bpd. KPC is keen to gain access to the
Chinese domestic market, but industry observers think it would be a tough goal to
negotiate. Chinese refiners have suffered losses as global crude prices have outstripped
state-set retail prices, giving Sinopec second thoughts on the joint venture.
Kuwait Investment Authority (KIA), an investment arm of Kuwaiti Government,
which has its representative office in Beijing, was reportedly granted a CNY 6.5 billion
($1 billion) license by China’s central bank to invest in the domestic interbank bond
market. China has allowed selected foreign financial institutions and central banks to
buy bonds on China’s interbank market for promoting the internationalization of
Chinese currency. KIA Managing Director Bader Al-Saad said that KIA has also invested
an initial quota of $300 million in the Chinese securities market after Beijing’s approval
in March. Kuwait originally requested for an allocation of $1 billion to invest directly in
China’s A-graded shares.
‣ Japan: Kuwait Chamber of Commerce & Industry (KCCI) and Japan Cooperation Center
for the Middle East (JCCME) jointly held a seminar on Renewable Energy and Energy
Efficiency Improvement on October 9 at KCCI. The Japanese delegation, comprising
representatives of 12 companies and one Japanese business association, was led by Seiji
Hirota, Executive Director of JCCME. Adel Al Yousifi, KCCI Board Member, in his
welcome address underlined the importance of the seminar in the light of the world’s
search for alternate energy solutions adding that Kuwait-Japan bilateral trade doubled
to $13.4 billion in the last 15 years and that Japan is Kuwait’s third largest importer after
the US and China. The Japanese delegation also held roundtable talks with Kuwait
Institute for Scientific Research (KISR) which focused on Concentrated Solar Power (CSP)
technology.
‣ Jordan: Pursuant to a decision in a GCC Summit in December 2011 in which Saudi
Arabia, UAE, Qatar and Kuwait committed $ 5 billion with each country contributing $
1.25 billion for Jordan’s development progrmames, Kuwait transferred the first tranche
of $ 250 million to the Central Bank of Jordan confirmed the Jordanian Finance Minister
6

Suleiman Hafez on October 5. Last month, Jordan and Kuwait signed a framework
agreement to regulate the grant of $1.25 billion over a period of five years.
‣ Mexico: Prime Minister Sheikh Jaber received the Head of the Kuwaiti-Mexican
Friendship Society Carlos Peralta at Bayan Palace on October 2. Sheikh Jaber stressed
the importance of exchanged bilateral visits between representatives of the private
sector, especially on economic, commercial and development-related cooperation,
pointing out the need to make use of Mexico’s capabilities in carrying out Kuwait’s
development plan.
‣ Saudi Arabia: Kuwait and Saudi Arabia signed a Civil Aviation Agreement on October 1
which stipulates that each side could run 77 flights weekly to and from Kuwait and Saudi
Arabia in addition to seven air cargo flights weekly. Kuwait Airways, Jazeera, Saudi
Airline and NAS, will currently benefit from the agreement. The agreement was signed
by the President of the Civil Aviation Fawaz Abdulaziz Al-Farah from the Kuwaiti side,
and Vice President of Saudi Arabia’s General Authority of Civil Aviation Dr. Faisal bin
Hamad Al-Sugair.
‣ Iraq: Iraq said on October 23 that a $500 million settlement had been finalized with
Kuwait to end a decades-long dispute between the two countries’ state-run airlines. It
was agreed that Iraq would pay $500 million to Kuwait Airways Company (KAC),
including $300 million in a bank to be designated by KAC under an Escraw arrangement,
and $200 million to be paid to KAC in the first half of 2013.
The Amir of Kuwait, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah signed Decree
No. 23 for 2012, endorsing a deal on the settlement of the financial dispute between
Kuwait and Iraq.
IV INTERNATIONAL/MULTILATERAL ACTIVITIES
‣ Kuwait hosted the first Asia Cooperation Dialogue (ACD) from October 16-17, 2012. In
his inaugural Address, HH the Amir of Kuwait proposed setting up of a $2 billion fund to
fight poverty in Asia and committed that Kuwait will donate $300 million to its corpus.
Several Head of States from Qatar, Bahrain and Bangladesh attended the two-day
Summit along with representatives from other ACD countries. Founded in Thailand in
2002, the ACD has 32 members including China, Japan, India and South Korea in
addition to major oil producers in the Gulf, Iran and Russia.
‣ Kuwait Minister of Commerce and Industry, Anas Al-Saleh attended a GCC Ministerial
meeting in Riyadh on October 2 which deliberated on Consumer Protection Law. On the
sidelines of the meeting, the Kuwaiti Minister said that GCC countries are looking
forward to establish a unified consumer protection laws center.
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V. TRADE DATA, ENQUIRIES, EXHIBITIONS, ETC.
Correspondences on trade enquiries from India and Kuwait as per details, at Annexure
‘A’ were received and processed by this Mission.
Kuwait’s trade with major countries may be seen at Annexure ‘B’.
Kuwait’s total trade with India and Kuwait’s five major items of imports and exports with
India at Annexure ‘C’.
A list of useful websites is at Annexure ‘D’.
Details of forthcoming trade exhibitions, to be held in the forthcoming months of 2012,
in Kuwait are at Annexure ‘E’.
This issues with the approval of the Ambassador.
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Trade enquiries from India during October 2012
Annexure ‘A’
Sl. No. Contact details Items
1 Mr. M. Rama Rao, Export Marketing Manager,
M/s Shree Mahalaxmi Agro Farms Pvt. Ltd., Flat
No. 101, Vishvkarma Complex, K Building,
Devkar Panand Vasahat, Kolhapur 416012,
Maharashtra
E-mail: rama_raom@hotmail.com
2 Mr. Manoj V. Kakaria
M/s Kakaria Exim (India) Ltd.,
04, Ankur, Dadabhai Road, Andheri West,
Mumbai - 400058
E-mail: mvkakaria@gmail.com
3 Mr. Vikas Chadha,
M/s Satavic Farms, 4A, North Tower,
2/3 Judges Court Road, Kolkata - 700027
E-mail: vikas@satavic.org
4 Mr. Akhil Bhatt, Marketing Manager (Exports),
EPP Composites Pvt. Ltd., Plot No. 2646, Kranti
Gate Main Road, GIDC Lodhika, Kalawad Raod
Metoda – 360021, Rajkot
E-mail: exports@epp.co.in
5 Mr. Ramesh Kisani, Director,
M/s Comex Metals & Minerals Pvt. Ltd.
GH, Nahar & Seth Industrial Estate
Cardinal Gracias Road, Chakala,
Andheri (East), Mumbai-400093
E-mail: trade@comexmetals.net
6 Mr. Chetan Kavar,
M/s Shree Patidar Traders,
B-22, Marketing Yard, Sanala Road, Morbi -
363641
E-mail: chetan@sptindia.in
7 Mr. Pravin Singh Bhati - (Global Business
Division)
M/s SU-KAM POWER SYSTEMS LTD,
54, Udyog Vihar, Phase VI, Sector-37
Gurgaon - 122001, Haryana, India
E-mail: pravin.bhati@su-kam.com
8 Mr. Arpit, Director,
Florence, 110 Roshan Avenue,
Opp. ICICI Bank, Silvassa-Vapi Road,
Silvassa – 396230, Dabra and Nagar Haveli
E-mail: arpit@damg.in
9
mango pulp
tamarind paste, onion etc
colors for Holi
basmati rice, sesame seeds, cumin
seeds etc
building materials and exporters of
metal scraps etc
building materials and exporters of
metal scraps etc
UPS, Inverters etc
spices and incense stick
9 Mr. Vipul, Logistic Division, acrylic polymers

M/s Corel Pharma Chem,
Corel Hiouse, Nr. Shayona Marble,
Opp. Nhagvat Petrol Pump, Gota, Ahmedabad -
382481
E-mail: logistic@corelpharmachem.com
10 Mr. Pradeep Chandrababu,
M/s Medicament Exports Pvt. Ltd,
2nd Floor, Kakade Plaza, Suzuki Showroom,
Opposite Kakade City, Karve Nagar, Pune 411
054
E-mail: pradeep@medicamentexports.com
11 Mr. A. Kumararaja, Proprietor,
H & D International,
EL 149, TNHB, Gandhi Gramam,
Karur, Tamil Nadu - 639004
E-mail: enquiry@handdinternational.com
12 Mr. P. Gopalan Nair, Business Development
Officer, M/s ARS International, 76, Lower
Ground Floor, World Trade Centre, Babar Road,
New Delhi - 110001
E-mail: info@arsinternational.in
13 Mr. Rakesh Jaggi,
M/s New Era Exports,
A-339, NSM, Azadpur, Delhi - 110033
E-mail: neweraexports@hotmail.com
14 Mr. Senthil, CEO,
M/s Poisewell International, Tirupur - 641652
E-mail: info@poisewell.com
15 M/s NIKO Steel Centre,
24/26, Shop No – 6B,
Sindhi Lane, Near N.D.Road,
Mumbai - 400004.
E-mail: exim@nikosteelcentre.com
16 Mr. Nilay Vora
M/s Globe Textiles (India) Pvt Ltd,
Office: 1449/1 st Floor,RMG house,
Opp Mithakhali Bus Stop,Mithakhli Gam,
Ahmedabad,Gujarat – 380006.
E-mail: nilay@globetextiles.net
17 Mr. Ghanshyam Jasoria
M/s Shree Siddhivinayak Industries,
334,3 rd Floor,Unnati Tower,
Central Spine,Vidhyadhar Nagar,
Jaipur - 302023.
E-mail: sio2solutions@gmail.com
18 Mr. P. Mahendiran, Proprietor,
M/s Mahendiran International,
Door No. 1/51, North Street,
Ka Mamanadhal, Kallakurichi – 606202,
Villupuram Dist., Tamil Nadu
10
pharmaceuticals
potato, onion etc
rice, wheat, sugar, coffee beans
etc
potato flakes
fresh fruits and vegetables, readymade
garments etc
Stainless Steel Pipes, Tubes,
Sheets, Plates, Coils, Fasteners,
Pipe Fittings, Flanges, Bar and
Wire, Threaded Rods and Studs,
Syphon Tubes etc.
Polyester Dyed Fabrics, Polyester
Printed Fabrics, Cotton Dyed
Fabrics, Cotton Printed Fabrics,
Suiting, Shirtings, Ladies Shawls
and Scarfs, Denim Stretch and Non
Stretch Fabrics etc.
Silica Sand, Feldspar, Dolomite,
China Clay, Ball Clay, Quartz, Lime
Stone, Soap Stone etc.
ready-made garments, imitation
jewellery, medicines etc

E-mail: mahendiraninternational@gmail.com
19 Mr. S.K. Agarwal,
M/s OM Industry,
H-165, RIICO Growth Centre,
Phase-II, Aburoad, Sirohi Dist., Rajasthan
E-mail: omguargum@gmail.com
20 Mr. Yogen Vankadkar,
M/s Green Eco Impex, #003, Building No. 28,
Harsh Vihar, Sector 1, Shanti Nagar,
Mira Road (E), Thane, Mumbai - 401107
E-mail: info@greenecoimpex.com
21 Mr. N.K. Patil, Sr. Executive (Intl),
M/s Sudal Industries Limited,
26A, Nariman Bhavan, 227,
Nariman Point, Mumbai - 400021
E-mail: mumbai@sudal.co.in
22 Mr. Mehul Patel, Managing Director,
M/s Alay International, 101, Mehta Building,
Sanganwa Chowk, Opp. Rajeshree Cinema,
Rajkot - 360001
E-mail: alayinternational@gmail.com
23 Mr. Mohan
M/s Power Engineers and Consultants,
E- 731, Phase V111, Focal Point,
Ludhiana - 141010.
E-mail: vanitaava@gmail.com
24 Mr.Vimal Shah
M/s Kshetrapal Metal & Alloys,
Shop No.2, Ground Floor,
Sindhi Lane, Mumbai -4
guar gum powder or industrial
gum powder
spices, pulses, agricultural
products etc
aluminium related products
food products, electrical products,
guar gum powders, textile
chemicals, ceramic tiles etc
Electrical Equipments
Stainless Steel seamless pipes,
fittings, sheets etc.
E-mail: kshetrapalmetal@gmail.com
25 Mr. Raj
Washers, Nuts / Bolts, Threaded
M/s Shiraj International, B-13, Textile Colony, Rods etc.
Industrial Area-A, Ludhiana – 141003 Punjab
E-mail: export.shiraj@gmail.com
26 Mr. Raj Pattani
Ceramic Tiles
M/s Jayco Ceramic, 8-A, National Highway,
At-Dhuva,Wankaner ( Morbi),
Gujarat - 363621.
E-mail: exim.jaycoceramic@gmail.com
27 Mr. L. S. Shivakumar
Terry towels and towel wraps etc
M/s ALS Exports, 2/8A, 7 th Street,
VNR Nagar,Vadavalli,
Coimbatore – 641041, Tamilnadu.
E-mail: info@alsexports.com
28 Mr. Nand Kumar Arora
Basmati rice, food products
M/s M.R.Overseas Pvt. Ltd,
Delhi
E-mail: sahil@mroverseas.com
29 Mr. Pradeep Chandrababu Rice
11

M/s Medicament Exports Pvt.Ltd,
243,11nd Floor,Kakde Plaza,
Karvenagar,Pune,
Maharashtra- 411052
E-mail: pradeep@medicamentexports.com
Trade enquiries from Kuwait during October 2012
Sl. No. Contact details Items
1 Mr. Mohammad Al Ajmi,
Regional Resource General Trading &
Contracting Co.,
Kuwait
Email: m.ajmi11@yahoo.com
2 Mr. Hussein Marzook,
M/s East Gate Est. Sanitary ware for Trading,
Shuwaikh, Kuwait
Email: Q8i00@hotmail.com
3 Mr. Minhazur Rahaman
JM Hike, India
Email: minhaz284@gmail.com
4 Mr. Mohmed Amin Gajariya,
Morouj International Trading Group,
P.O. Box: 26209, Safat, 13123, Kuwait
Email: amin@gajarya.com
Coffee
sanitary ware
Regarding inclusion of stake
holders in the current business in
India.
Regarding opening of a business
organisation in India.
12

i) Principal import and exports with other countries
Annexure ‘B’
a) Top Ten Countries Exporting to Kuwait
(in million)
COUNTRIES 2008 2009 2010
KD US$ KD US$ KD US$
China People's Rep. 780.73 2913.17 707.00 2637.11 812 2915
U.S.A 719.09 2683.17 635.29 2369.63 743 2669
Germany 489.08 1824.92 445.67 1662.35 475 1705
Japan 641.10 2392.16 419.42 1564.43 517 1856
Saudi Arabia 374.61 1397.79 346.85 1293.75 344 1236
India 302.67 1129.36 315.51 1176.85 369 1325
Italy 322.80 1204.47 261.19 974.24 307 1102
United Arab Emirates 264.10 985.44 249.66 931.23 289 1039
South Korea 223.47 833.84 247.73 924.03 293 1052
United Kingdom 190.24 709.85 188.3 702.35 200 718
Source: Central Statistical Bureau, State of Kuwait
b) Top Destinations of Kuwait’s Non-Oil Exports
COUNTRIES
2008 2009 2010
KD US$ KD US$ KD US$
(in million)
China 25.88 96.53 326.37 1217.36 194.43 698.03
United Arab
Emirates
185.40 691.79 168.47 628.39 173.86 624.17
Saudi Arabia 114.17 426.00 127.01 473.74 140.39 504.03
India 143.86 536.79 94.43 352.22 118.47 425.31
Turkey 34.33 128.05 65.89 245.77 37.37 134.17
Jordan 58.10 216.79 64.77 241.59 50.32 180.67
U.S.A 125.82 469.47 51.80 193.21 49.38 177.28
Source: Central Statistical Bureau, State of Kuwait
13

Annexure ‘C’
i) Trade Between India and Kuwait
April 2009-
March 2010
April 2010-
March 2011
(in Million US$)
April 2011-
March 2012
INDIA’S EXPORT TO KUWAIT 782.45 1856.01 1,181.41
INDIA’S IMPORT FROM KUWAIT 8,249.49 10,313.64 16,375.37
TOTAL TRADE 9,031.94 12,169.65 17,556.78
GOI
ii) India’s trade with Kuwait
Top five items of Exports to Kuwait
Source: Department of Commerce, M/o Commerce & Industry,
All figures on FOB basis.
S.No Commodity 2011-2012
Value
(in Million US$)
1. Cereals 296.16
2. Articles of Iron & Steel 128.09
3. Nuclear reactors, boilers, machinery
& mechnical appliances
4. Electrical Machinery & Equipments, sound recorders and
reproducers, television image, sound recorders and reproducers
and parts
100.46
68.31
5. Meat & Edible Meat Offal. 61.54
Industry, GOI
Source : Department of Commerce, M/o Commerce &
Top five items of Imports from Kuwait
Sl. No Commodity 2011-2012
1 MINERAL FUELS, MINERAL OILS AND PRODUCTS OF THEIR
DISTILLATION; BITUMINOUS SUBSTANCES; MINERAL WAXES.
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Value
(in Million US$)
15,667.11
2 ORGANIC CHEMICALS 384.36
3 IRON AND STEEL 79.51
4 PLASTIC AND ARTICLES THEREOF. 54.15
5 ALUMINIUM AND ARTICLES THEREOF. 41.21

Industry, GOI
Source : Department of Commerce, M/o Commerce &
Annexure ‘D’
List of useful websites on Kuwait
i) Official
1. www.e.gov.kw : Official website of the State of Kuwait
2. www.mof.gov.kw : Ministry of Finance
3. www.moo.gov.kw: : Ministry of Energy
4. www.moci.gov.kw : Ministry of Commerce & Industry
ii)
Local Trade Bodies
5. www.kcci.org.kw : Kuwait Chamber of Commerce & Industry
6. www.kpc.com.kw : Kuwait Petroleum Corporation and its subsidiaries
iii)
Banks and financial institutions
7. www.cbk.gov.kw : Central Bank of Kuwait
8. www.nbk.com : National Bank of Kuwait
9. www.cbk.com : Commercial Bank of Kuwait
10. www.kia.gov.kw : Kuwait Investment Authority
iv)
Media
11. www.kuna.net.kw : Kuwait News Agency
12. www.kuwaittimes.net : Kuwait Times
13. www.arabtimesonline.com : Arab Times
14. www.kuwaitsamachar.com : For news about Kuwait, India and Indian expatriates in Kuwait.
v) About Kuwait
15. www.arab.net.kuwait : For research on Kuwait, etc.
16. www.kif.net : Kuwait International Fair Company (KIFCO)
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Annexure ‘E’
Kuwait International Fair organizes fairs and exhibitions in Kuwait. The calendar of events for the
year 2012-13 is reproduced below:
Consumer Exhibitions
Date Exhibition Name Hall Category
08.11.2012 - 01.12.2012 Gifts & Autumn Consumer
Exhibition
05.12.2012 - 15.12.2012 The First International Shopping
Exhibition
Hall 4
Hall 4A
Consumer Exhibitions
Consumer Exhibitions
20.12.2012 - 29.12.2012 Winter Fashion Fair Hall 4B Consumer Exhibitions
31.12.2012 - 12.01.2013 End of Year Exhibition Hall 4B Consumer Exhibitions
24.01.2013 - 04.02.2013 Arabic Products Exhibition Hall 4B Consumer Exhibitions
17.02.2013 - 09.03.2013 Independance 53 Show Hall 4 Consumer Exhibitions
21.02.2013 - 28.02.2013 Independence Exhibition Hall 6 Consumer Exhibitions
21.02.2013 - 02.03.2013 Independence Exhibition Hall 5
& 7
Consumer Exhibitions
28.03.2013 - 06.04.2013 Gifts Exhibition Hall 4 Consumer Exhibitions
25.04.2013 - 04.05.2013 Summer Fashion Fair Hall 4A Consumer Exhibitions
22.05.2013 - 01.06.2013 Kuwait International Trade Fair Hall 4 Consumer Exhibitions
06.06.2013 - 18.06.2013 Summer Carnival Hall 4 Consumer Exhibitions
30.06.2013 - 09.07.2013 Family Expo Hall 5
& 6
Consumer Exhibitions
29.07.2013 - 07.08.2013 Ramadan & Eid Exhibition Hall 4B Consumer Exhibitions
28.08.2013 - 07.09.2013 Family Consumer Exhibition Hall 4 Consumer Exhibitions
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18.09.2013 - 28.09.2013 Seasonal Consumer Exhibition Hall 4 Consumer Exhibitions
Specialized Exhibitions
Date Exhibition Name Hall Category
01.11.2012 -
01.11.2012
08.11.2012 -
10.11.2012
Reception Ceremony of Bohra Hall 4 Specialized
Exhibitions
Kootna Expo Hall 7 Specialized
Exhibitions
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Date Exhibition Name Hall Category
18.11.2012 -
24.11.2012
Building & Construction Exhibition Hall 8 Specialized
Exhibitions
21.11.2012 -
01.12.2012
Arabic Books Exhibition Hall 5, 6
& 7
Specialized
Exhibitions
11.12.2012 -
15.12.2012
Educators and Teachers Exhibitions Hall 5 Specialized
Exhibitions
19.12.2012 -
22.12.2012
Gulf Youth Hospitality and Heritage
Exhibition
Hall 7
Specialized
Exhibitions
20.12.2012 -
29.12.2012
26.12.2012 -
29.12.2012
27.12.2012 -
29.12.2012
Food Show Hall 8 Specialized
Exhibitions
Intend ... Do Hall 7 Specialized
Exhibitions
Bangali International Trade Exhibition Hall 6 Specialized
Exhibitions
24.01.2013 -
04.02.2013
Arabian & International Products
Exhibition
Hall 4B
Specialized
Exhibitions
27.01.2013 -
02.02.2013
InfoConnect
Hall 5 &
6
Specialized
Exhibitions
27.01.2013 -
31.01.2013
04.03.2013 -
07.03.2013
Smart Buildings Expo Hall 7 Specialized
Exhibitions
EDUCARE Hall 4A Specialized
Exhibitions
20.03.2013 -
30.03.2013
Kuwait International Perfumes &
Cosmetics Exhibition
Hall 5, 6
& 7
Specialized
Exhibitions
20.03.2013 -
30.03.2013
Specialized Watches Exhibition Hall 8 Specialized
Exhibitions
07.04.2013 -
10.04.2013
Egyptian Tourism & Investment
Exhibition - EGYTIX 2013
Hall 7
Specialized
Exhibitions
09.04.2013 -
20.05.2013
09.04.2013 -
18.04.2013
Islamic Books Exhibition Hall 5 Specialized
Exhibitions
Spring Shopping Festival Hall 4B Specialized
Exhibitions
16.04.2013 -
22.04.2013
11th International Gold & Jewelry
Exhibition
Hall 8
Specialized
Exhibitions
18

Date Exhibition Name Hall Category
23.04.2013 -
04.05.2013
24.04.2013 -
27.04.2013
Outlet Hall 4B Specialized
Exhibitions
Asian Hunting & Shooting Exhibition Hall 6 Specialized
Exhibitions
05.05.2013 -
07.05.2013
Kuwait Environment, Water & Energy
Exhibition
Hall 8
Specialized
Exhibitions
13.05.2013 -
15.05.2013
27.05.2013 -
05.06.2013
Travel World Expo (TWE) Hall 8 Specialized
Exhibitions
Kuwait Industries Exhibition Hall 8 Specialized
Exhibitions
11.06.2013 -
22.06.2013
Exhibition and International Summer
Shopping Festival
Hall 4A
Specialized
Exhibitions
27.06.2013 -
09.07.2013
21.07.2013 -
27.07.2013
16.09.2013 -
18.09.2013
01.10.2013 -
12.10.2013
Kuwait Household Exhibition Hall 4 Specialized
Exhibitions
Hajj & Umra Expo Hall 4A Specialized
Exhibitions
BIG 5 Kuwait Hall 6 Specialized
Exhibitions
Specialized Watches Exhibition Hall 8 Specialized
Exhibitions
01.10.2013 -
12.10.2013
Autumn Perfume Exhibition Hall 5, 6
& 7
Specialized
Exhibitions
10.12.2013 -
12.12.2013
Gulf Defense & Aerospace Exhibition &
Conference
Hall 8
Specialized
Exhibitions
20.12.2013 -
31.12.2013
Syrian Companies Exhibition Hall 4B Specialized
Exhibitions
PS- All the above exhibitions/fairs would be held at Kuwait International Fair Grounds, Mishref.
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