Bahraini-Indian economic relations highlighted
Manama, Feb. 20 (BNA): Minister of Industry and Commerce Abdullah bin Adel Fakhro affirmed the depth of historical relations between Bahrain and India, especially in the commercial field, which date back to the Dilmun civilization until present day.
Fakhro participated as a keynote speaker in the gala dinner held on the sidelines of the 42nd International Seminar on Industrial/Medical Gases in Bahrain, in the presence of Indian Ambassador Piyush Srivastava, and President of All India Industrial Gases Manufacturer's Association (AIIGMA) Saket Tiku, organized by AIIGMA in cooperation with the Indian Embassy, and with the participation of the Economic Development Board (EDB) and a number of relevant authorities.
The minister highlighted the volume of Bahraini-Indian economic relations, as the volume of non-oil trade between the two countries amounted to $ 1.4 billion, and imports from India amounted to $ 904 million, while the value of exports amounted to $ 498 million.
He referred to the high number of Indian companies established in Bahrain, including 10,000 either 100% owned by Indian investors or shared with Indian partners, amounting to 10% of the number of active commercial registers in the "Sijilat" system at the ministry.
The minister highlighted the most prominent positive outcomes achieved since the launch of the Industrial Sector Strategy 2022-2026 within the economic recovery plan, which aims to increase the contribution of the industrial sector to the GDP and the sector's exports of national origin, and provide more qualitative opportunities for citizens.
Fakhro also mentioned that the ministry is keen to develop and support various types of projects, as the industrial sector in the Ministry is constantly updating and reviewing commercial laws to eliminate challenges and facilitate the process of establishing businesses in Bahrain.
The government has taken a set of steps to consolidate the Kingdom's position as a preferred destination for business, economic activity and direct investment flow by expanding the private sector’s contribution to the GDP, he said.
The seminar included a panel discussion by the EDB, and several presentations discussing topics related to Industrial/Medical Gases and ways to enhance cooperation between Bahrain and India.
