Bahrain News Agency
BCCI chief urges Indian downstream manufacturers in aluminium, steel and petrochemicals to invest in Bahrain
Edited by : AL CIRCLE
2 min read
Bahrain beckons Indian downstream manufacturers in aluminium, steel and petrochemicals said BCCI chief.
“Manufacturing companies from India can look at Bahrain as a base for downstream manufacturing industries in aluminium, steel and petrochemicals. Bahrain’s proximity to the raw material source is a huge benefit for such businesses,” said Dr Esam Fakhro, Chairman of the Bahrain Chamber of Commerce and Industry in an exclusive interview for the Bahrain News Agency.
“It makes great sense to look at Bahrain. The cost of fuel in Bahrain, when compared with India, is 20 per cent less. The proximity of raw material – including steel aluminium and hydrocarbons is more here. It thus makes great sense to companies looking to venture out of the country to setting up base here. It is important to be able to reach them and give the advantages of setting up in Bahrain,” he said.
Looking away from manufacturing and into investments, Dr Fakhro said, “the visit to India was because there are still many firms that might not be fully informed about the investment environment in Bahrain.”
“Bahrain has over 200 Indian agencies and over 20 partnerships – either as joint ventures or as 100 per cent ownership,” he added.
The Bahraini delegation had Indian traders who have their businesses in this country. They talked about not just the environment and climate in Bahrain, but also addressed the problems posed by Indians who talk about the unfortunate events this country has been through.
They gave the impression that Bahrain is back to business as usual. The Lulu Hypermarket for example was a growth story and expansion plans were made known to the Indian investing community. That gives the confidence to the Indian investor to look at Bahrain and to set up base here.
The tangible effects of the India visit, he said, were the two Memoranda of Understanding signed. One was signed between the Bahrain Chamber of Commerce and Industry (BCCI) and the Indian Chamber of Commerce and Industry (ICCI) to set up a joint business council.
The trade chief said that he also met Rajiv Vaishnav, the Vice President of National Association of Software and Services Companies (Nasscom). “ The IT segment in India is well worth $100 billion. That in itself gives the indication of potentialities that exist and the need for Bahrain to promote its relations with India.
“It makes great sense to look at Bahrain. The cost of fuel in Bahrain, when compared with India, is 20 per cent less. The proximity of raw material – including steel aluminium and hydrocarbons is more here. It thus makes great sense to companies looking to venture out of the country to setting up base here. It is important to be able to reach them and give the advantages of setting up in Bahrain,” he said.
Looking away from manufacturing and into investments, Dr Fakhro said, “the visit to India was because there are still many firms that might not be fully informed about the investment environment in Bahrain.”
“Bahrain has over 200 Indian agencies and over 20 partnerships – either as joint ventures or as 100 per cent ownership,” he added.
The Bahraini delegation had Indian traders who have their businesses in this country. They talked about not just the environment and climate in Bahrain, but also addressed the problems posed by Indians who talk about the unfortunate events this country has been through.
They gave the impression that Bahrain is back to business as usual. The Lulu Hypermarket for example was a growth story and expansion plans were made known to the Indian investing community. That gives the confidence to the Indian investor to look at Bahrain and to set up base here.
The tangible effects of the India visit, he said, were the two Memoranda of Understanding signed. One was signed between the Bahrain Chamber of Commerce and Industry (BCCI) and the Indian Chamber of Commerce and Industry (ICCI) to set up a joint business council.
The trade chief said that he also met Rajiv Vaishnav, the Vice President of National Association of Software and Services Companies (Nasscom). “ The IT segment in India is well worth $100 billion. That in itself gives the indication of potentialities that exist and the need for Bahrain to promote its relations with India.
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