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
More Finance & Capital Market Stories
- Kuwait GDP growth to hit 3.5pc in 2014
- Gulf shares tumble over EM exposure cut
- GCC bonds to gain from macro-economic climate
- French Business Council Dubai members up 18pc
- Egypt economy growth seen less strong than thought
- Sharjah approves $4.2bn budget for 2014
- Saudi non-oil sector posts solid growth in Feb
- Seera total income rises to $34m
- NBAD approves 40pc cash dividends
- NBAD sees 8-10pc loan growth
- Al Basel Group launches investment arm
- Union Insurance posts $18m profit
- Oman warns banks on conflicts of interest
- Japan to lend Tunisia $480m
- 400 to join anti-laundering seminar in Riyadh
- Lebanese insurer to head Prague Club
- UAE's first REIT plans $135m IPO
- Bahrain banking industry outlook 'positive'
- New India Assurance opens Bahrain branch
- Qatar sets up mixed business incubator
- Kuwait budget spending up 8pc in April-Jan
- Thomson Reuters to host Mena IFR awards
- ADIB offers smartphone industry investment
- Gulf Finance House to start $3bn Tunisia project
- KFH completes ICT project upgrade
- Egypt urban annual inflation slows to 9.8pc
- BIBF signs deal with Palestinian institute
- Bahrain’s GDP set to expand 12pc
- KFH-Bahrain rebrands priority banking
- Bank Nizwa wins top Islamic bank award