Bahrain set for key India business summit
Manama, October 21, 2013
The first-ever Bahrain-India Economic Partnership Conference and Exhibition that opens tomorrow is expected to galvanise the $2 billion bilateral trade that has remained static over the last five years.
Organised by the Confederation of Indian Industry (CII), the three-day event will be held at the Bahrain International Exhibition and Convention Centre under the patronage of Industry and Commerce Minister Dr Hassan Fakhro, reported the Gulf Daily News, our sister publication.
Indian Ambassador Dr Mohan Kumar told a Press conference at the Indian Embassy yesterday that more business-to-business interaction was needed to boost trade levels and promote bilateral investment.
"Governments are basically enablers and it is up to private enterprises in both countries to tap the huge potential that exists."
The ambassador said key themes of the event would be information and communications technology (ICT), healthcare and pharma as well as small and medium enterprises.
"India is renowned worldwide for its expertise in ICT and pharma, both of which are developed using a lot of indigenous technology," Dr Kumar said.
"I feel that Bahraini firms, specially SMEs, have a lot to gain through partnerships and joint ventures with Indian firms, who can offer cost-effective and high-quality solutions that are appropriate to the market," he said.
Dr Kumar said the strategic location of the kingdom was an opportunity for Indian businesses to reach out to key markets in the Middle East and North Africa region.
The economies of the GCC are continuing to diversify, with Bahrain at the forefront, offering exciting opportunities for foreign investors and new products for export to foreign markets.
"We hope Indian businesses looking to access the Gulf market will benefit from this opportunity," Dr Kumar said.-TradeArabia News Service