The Embassy of India in Bahrain, in collaboration with the Bahrain India Society (BIS), recently organized an event focusing on bilateral investments at Crowne Plaza in Manama. The event was attended by H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, along with representatives from BIS and both the Indian and Bahraini business communities. During the inaugural ceremony, H.E. Ambassador Vinod K Jacob highlighted the strong and forward-looking relationship between India and Bahrain as the two countries celebrate important milestones in their diplomatic history.
Since 2019, there has been a significant 40 percent increase in two-way investments between India and Bahrain, with the current cumulative investment standing at more than $1.62 billion. Indian investments in Bahrain during the period of 2023 Q2 to 2024 Q2 amounted to $265 million, a notable increase from the previous year. Several well-known Indian brands have also made strides in the Bahraini market, including the Taj Brand, Bikanervala, Apollo, and Lulu Group, showcasing the growing economic cooperation between the two countries.
Statistics from the Department of Commerce of India revealed that two-way trade between India and Bahrain reached $1.73 billion from April 2023 to March 2024. This further underscores the expanding economic ties between the two nations and the potential for further growth and collaboration in various sectors. The event provided a platform for stakeholders from both countries to discuss opportunities for investment and explore avenues for enhancing bilateral cooperation in the future.
The close relationship between India and Bahrain is set to continue strengthening, with a focus on encouraging more investments and trade between the two countries. The event served as a testament to the growing economic partnership and the willingness of both nations to explore new opportunities for collaboration in various sectors such as hospitality, healthcare, and retail. With the support of government officials and business leaders from both countries, the event highlighted the mutual commitment to fostering a strong and sustainable economic partnership.
The event also highlighted the increasing interest of Indian companies in establishing a presence in Bahrain and expanding their operations in the region. This presents a significant opportunity for both Indian and Bahraini businesses to leverage each other’s strengths and capabilities for mutual benefit. By fostering a conducive environment for investment and trade, both countries can harness their collective potential to drive economic growth and prosperity for their citizens.
Overall, the event focused on showcasing the growing economic ties between India and Bahrain and the potential for further collaboration in the future. By highlighting the success stories of Indian investments in Bahrain and exploring opportunities for future partnerships, the event underscored the shared commitment of both nations to strengthening their bilateral relationship and promoting economic growth. With a strong foundation in place, India and Bahrain are well-positioned to capitalize on their synergies and harness new opportunities for mutual benefit in the years to come.
