All roads lead to strengthening Bahrain-India investments

TDT | Manama                                                      

The Daily Tribune – www.newsofbahrain.com

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Embassy of India, Bahrain, along with Bahrain India Society (BIS), organised an event titled “Focusing on Bilateral Investments” yesterday at Crowne Plaza, Manama.

The program was attended by H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, and representatives from BIS and the Indian and Bahraini Business communities.

At the inaugural ceremony, H.E. Ambassador Vinod K Jacob conveyed that India-Bahrain bilateral relationship is very close and forward looking in 2024, marking the tenth anniversary of the state visit of His Majesty King Hamad bin Isa Al Khalifa to India and also the fifth anniversary of the state visit of Prime Minister H.E. Mr. Narendra Modi to Bahrain in 2019.

There has been a 40 percent increase in two-way investments since 2019 with the cumulative currently standing at more than $1.62 billion.

Indian investments during the one year period 2023 Q2 to 2024 Q2 was $265 million; a substantial increase from the one year period 2023 Q1 to 2024 Q1 when Indian investment was of the order of $200 million.

Highly reputed Indian brands have decided to establish a presence in Bahraini market or elevate the already existing engagement.

These include the Taj Brand through the proposed two properties in partnership with Kingdom Projects, the first Bikanervala outlet in Bahrain, the Apollo brand with its collaboration with Bahrain Specialist Hospital, and the 11th hypermarket of Lulu group.

According to statistics from the Department of Commerce of India, from April 2023 to March 2024, two way trade reached $1.73 billion.