H.E. Minister of Industry and Commerce Abdulla 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.
This came during the Minister's participation 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 Mr. Piyush Srivastava, and Mr. Saket Tiku, President of All India Industrial Gases Manufacturer's Association (AIIGMA), organized by All India Industrial Gases Manufacturer's Association (AIIGMA) in cooperation with the Indian Embassy, and with the participation of the EDB and a number of concerned authorities, at the Art Rotana Hotel.
HE the Minister pointed to 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. Not to mention the number of Indian companies established in Bahrain, including 10 thousand 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 of Industry and Commerce.
Moreover, H.E. referred to the most prominent positive repercussions 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, increase the sector's exports of national origin, and provide more qualitative opportunities for citizens.
Fakhro also mentioned that the Ministry of Industry and Commerce 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, and 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.
Adding that the government is working to develop and support the entrepreneurship and SMEs sector by implementing the transition from an oil-based economy to a sustainable economy based on competitiveness and providing global products to achieve the goals of Bahrain's Economic Vision 2030.
The seminar included a panel discussion by the EDB, and several presentations discussing topics related to Industrial/Medical Gases. In an aim to enhance cooperation and push relations between Bahrain and India towards wider horizons to achieve desired objectives.
