Bahrain-India investment event opens
Manama, October 22, 2013
A major three-day Bahraini-Indian investment conference opened today at the Bahrain International Exhibition & Convention Centre.
The event, sponsored by the Bahrain Economic Development Board (EDB), is being held under the patronage of Hassan Fakhro, Minister of Industry and Commerce, and is also being supported by the Confederation of Indian Industry and the Indian Embassy in Bahrain.
The conference comes ahead of a visit to India by a high-level Bahraini economic and business delegation taking place later in the year, which will be led by Kamal bin Ahmed, Minister of Transportation and acting chief executive of the EDB, said a statement.
A large number of Indian businesses have established operations in Bahrain as a means of accessing the wider Gulf market, which is now worth $1.5 trillion and is set to reach $2 trillion by 2022. Leading Indian companies with offices or facilities in Bahrain include: Tata Consultancy Services, Tech Mahindra, Sun Shed Energy, JBF Industries, Canara Bank, ICICI Bank, Bank of Baroda and State Bank of India.
“India is one of our most important trade partners and we are delighted to be hosting such a senior delegation. Indian businesses are increasingly prominent on the world stage; and economic opportunities and historic ties in the Gulf market make it a popular location for firms that are looking to expand internationally,” said Ahmed.
“Bahrain’s skilled local workforce, low operating costs, tried and tested regulation, and excellent market access makes it an ideal location from which to access this market and we look forward to welcoming many more Indian companies in the future.”
The EDB has also organised B2B meetings on the sidelines of the conference at the Capital Club, to promote investment cooperation between the two countries.
In addition to the conference activities, the EDB will also be hosting a gala dinner for the delegates.
Indian representatives showcased the most promising sectors and opportunities for cooperation between the two countries, including the chemical, steel, packaging, metal, cement, medical care and banking services, in addition to industries related to defence and aviation. - TradeArabia News Service