His Majesty King Hamad last night urged Indian businessmen to invest in Bahrain and benefit from its economic and social openness.

"Bahrain spares no effort to encourage external investments from India, being the cornerstone of economic development and social prosperity," he said in a report in the Gulf Daily News (GDN), our sister publication.

He was receiving at his residence in the Indian capital a delegation featuring leading Indian business tycoons and traders.

His Majesty, who started a key official visit to India yesterday, welcomed the trade, investment and economic memoranda of understanding, which will be signed by Bahraini and Indian businessmen.

Addressing the delegation, he hailed long-standing bilateral relations, commending the strong economic, trade and investment co-operation.

He lauded the pivotal role of the Indian businessmen and their Bahraini counterparts in boosting the volume of trade exchanges, setting up joint ventures and holding exhibitions and forums whose dividends benefit the two friendly countries.

He paid tribute to Bahraini and Indian trailblazing traders who put, since early 20th century, the first cornerstone of decades-long business co-operation between the two strategically-located countries.

He emphasised Bahrain's strategic location at the crossroads of world trade routes, commending the crucial role played by the private sector in bolstering co-operation and spearheading joint ventures to boost the volume of trade exchanges.

He took pride in Bahrain's landmark achievements and economic, trade and investment success stories which continue to spur steady economic growth and consolidate the kingdom's standing as a key business hub to reckon with in the region.

His Majesty hailed landmark achievements, as reflected in economic, industrial, trade and investment milestones, thus consolidating Bahrain's global standing and leverage.

He stressed the common denominators bonding Bahrain and India, with both located in the Asian continent and sharing the same long-standing civilisation.

He underlined the role of India in spearheading regional progress and development, commending the crucial contribution of Bahrain-based Indian companies and expatriate community in building Bahrain and spurring its economic growth.

He wished Indian businessmen every success and continuous co-operation with their Bahraini counterparts to achieve all the aspirations and hopes pinned on bilateral relations.

The King later hosted a dinner banquet in honour of the Indian businessmen and the Bahraini trade delegation.

Earlier, the King arrived at Palam Air Force Base in New Delhi and was welcomed by Minister of State for External Affairs E Ahamed, the head of His Majesty's convoy of honour, chief of protocol at the Indian External Affairs Ministry Ruchira Kamboj, Arab ambassadors accredited to India, Indian Ambassador to Bahrain and the Bahraini Ambassador to India.

He will hold talks with President Mukherjee, Prime Minister Manmohan Singh and senior officials. The King was seen off at Sakhir Airbase by His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa and His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister.

Key deals to be signed

Bahrain and India are expected to set up high-profile projects and sign key trade agreements on the sidelines of His Majesty's visit to India.

Sources told our sister paper Akhbar Al Khaleej that Bahrain Midal Cables is expected to set up a factory in India to serve as a regional hub for its activities in southern Asia.

Ali Rashid Al Ameen group will seal three joint venture deals in food, gas and construction.

Bahrain is also expected to sign a co-operation agreement with Indian Gold and Jewellery Association to exchange expertise in addition to other partnerships between small and medium companies in both countries. - TradeArabia News Service