NEW DELHI: Big deals could be in the offing after the visit of the prime minister of Kuwait, Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah, to India.

Sheikh Jaber Al-Mubarak arrived in India Thursday for a three-day state visit.

Kuwait has a $350-billion sovereign fund, and is keenly interested to invest across India's infrastructure sector as well as the financial sector.

Leading the initiative, the Prime Minister's Office and the Finance Ministry have worked out a series of proposals for the consideration of Al-Mubarak.

This includes participation for Kuwait Investment Authority (KIA), which manages Kuwait's sovereign wealth fund (SWF) in the disinvestment of Indian PSUs. Also on offer are parking of Kuwait's funds in sovereign bonds of Indian public sector undertakings (PSUs) besides concrete investment opportunities in completed infrastructure projects, apart from the Delhi-Mumbai Industrial Corridor, power projects, toll bridges, etc.

"The visit of the Kuwaiti Prime Minister comes after a long gap of 49 years, and is expected to take the bilateral relations between India and Kuwait to a new level," said a senior official in PMO.

"Participation in IDFC's Infrastructure Fund has also been offered to KIA....IDFC is raising its second infrastructure fund targeting $1 billion," the official said.

KIA is understood to have over $50 billion in very low-yielding investments such as American Treasury Bonds and is keen to increase returns by investing in projects of emerging economies like India.