CII set to open first GCC office in Bahrain

Key deals signed
with Indian firms
4
Gulf Daily News Thursday, 20th February 2014
HIS MAJESTY VISITS INDIA
NEW DELHI: Bahrain yesterday signed key agreements with Indian business organisations, aimed
at encouraging greater
economic collaboration
between the two friendly
countries.
A business delegation
co-ordinated by Bahrain’s
Industry and Commerce
Ministry and the Economic Development Board
(EDB) also hosted the Bahrain-India Business Forum
in the Indian capital.
More than 130 Bahraini
businessmen and women promoted opportunities for Indian businesses
in Bahrain and the Middle
East.
Industry
and
Commerce Minister Dr Hassan
Fakhro said the forum and
the agreements signed further strengthened economic
ties between Bahrain and
India.
“The fact that the agreements cover a range of sectors, including information
and communication technology, financial services,
construction and industry,
demonstrates the diverse opportunities in the kingdom.
“Bahrain is uniquely positioned as the natural gateway to the $1.5 trillion GCC
economy, and the region’s
favourable
fundamentals
create strong opportunities
for Indian companies,” he
said.
Transportation Minister
and EDB acting chief executive Kamal Ahmed hailed
“the extremely productive
bilateral discussions that
demonstrates the depth of
n The Bahraini delegation meets the Indian Press
our relationship.”
“We are looking to enhance
and strengthen business relations with India following the
directives of His Majesty,” Mr
Ahmed said.
“By working together we can
help business in both our countries to flourish and our economies to grow.”
In his opening remarks at
the forum, Dr Fakhro pointed
out that non-oil trade between
Bahrain and India witnessed a
growth of more than 135 per
cent between 2006 and 2011 to
reach $882 million in 2011.
The total combined oil and
non-oil trade reached $2.5bn in
2011 – an increase of 280pc or
$666m compared to 2006.
Dr Fakhro also noted that
Bahrain now hosts a large
number of Indian companies,
including in the aviation, management services, engineering and ICT sectors.
In his keynote address, Mr Ahmed reflected on
Bahrain and India’s shared history and longstanding bilateral
economic and trade relationship, as well as the growing importance of India to the GCC,
which has become the region’s
largest trading partner with bilateral trade forecast to have
exceeded $175bn in 2013.
Agreements
l A memorandum of under-
standing (MoU) was signed between EDB and Nasscom – the
Indian business association representing the ICT industry – to
further the development of ICT
industries, including e-commerce and e-governance, in
both countries. The agreement
was signed by Mr Ahmed and
Nasscom president R Chandrashekhar.
Other agreements include:
l MoU between Bahrain Development Bank and the Small
Industries Development Bank
of India, signed by Finance
Minister Shaikh Ahmed bin
CII set to open
first GCC office
in Bahrain
By Sandeep Singh Grewal
ONE of India’s leading business and policy making bodies has chosen Bahrain for its
first GCC office.
The Confederation of Indian Industry (CII) will establish an office in Manama to
increase its presence in the region, revealed Transportation
Minister and Economic Development Board acting chief
executive Kamal Ahmed.
A total of eight memoranda of understanding (MoU)
have been signed between
Bahraini and Indian businessmen during His Majesty’s visit to India.
“The EDB has signed an
agreement with the Confederation of Indian Industry
(CII) during the Bahrain India Business Forum in New
Delhi,” said Mr Ahmed.
“The CII has also selected
Bahrain as a location for its
offices in order to serve the
wider GCC region.
“Having their presence in
Bahrain will offer potential
investors and companies
from India more insight into
the opportunities available in
Bahrain.”
An agreement in this regard was signed between Mr
Ahmed and CII official Gorpal Singh.
Business Professional Women
India.
l MoU Between National Cement Company and Liberty
Group.
l An agreement was signed between Nader and Ebrahim Hassan Company and Sanghar
Exports to set up a 1,000-acre
banana plantation, in addition to
the company’s existing set-up,
to increase production.
Government officials and
business leaders took part in the
panel discussions.
Taking part in the first discussion on ‘Opportunities for
Indian Businesses in Bahrain’
were
Standard
Chartered
Bank
Bahrain chief executive Hassan
Jarrar, Electricity
and Water AuthorPartnership
ity chief executive
“We are delighted with this
Shaikh Nawaf bin partnership and look forward
Ebrahim Al Khal- to continuing to build on this
ifa, Central Bank long-standing relationship
of Bahrain’s fi- of significant importance –
nancial
institu- as has been marked by His
tions supervision Majesty’s visit to India this
executive direc- week,” Mr Ahmed said.
tor Abdulrahman
The CII will work to set
n Mr Ahmed and Nasscom president at the Al Baker, Indusup a new business committee
signing ceremony
trial Affairs Un- that will look at developing
der-Secretary Osa- business ties between India
Mohammed Al Khalifa and
SIDBI deputy managing direc- ma Al Arrayedh, Works and Bahrain, and greater colWaleed laboration between the CII
tor Maini, to develop initiatives Under-Secretary
Al Saie and Bapco chairman and EDB – including partto help grow SMEs.
l MoU between Tamkeen and acting chief executive Adel
nering to bring business deland the Indian National Skills Almoayyed.
egations to each country and
Development
Corporation
The second panel discussion, EDB sponsorship of the CII
(NSDC) to exchange learning ‘Bahrain – Gateway to the Re- Partnership Summit 2015.
and best-practices in training, gion’, included the participation
Meanwhile, India’s Minentrepreneurship and skills de- of Noon Group chairman Lord ister of State for Commerce
velopment. It was signed by Ghulam Noon as moderator, and Industry E M S NatchiMr Ahmed and NSDC chief ex- Bahrain Chamber of Commerce appan encouraged Bahraini
ecutive Dilip Chenoy.
and Industry (BCCI) presi- business leaders to take adl MoU between Bahrain Uni- dent Dr Essam Fakhro, EDB
vantage of economic reforms
versity and Jawaharlal Nehru executive director for busi- and eased regulations on forUniversity, which was signed ness development Vivian Ja- eign investments in sectors
by UoB president Dr Ibrahim mal, LuLu Group International including retail and telecom.
Janahi and JNU vice-chancel- chairman Yusuffali M A, Bah“With the reforms being
lor Prof Sudhir Kumar Sopory.
rain-India Society chairman Mo- undertaken in India, there
l MoU between National Auhammed Dadabhai and Kims are several opportunities
thority for Qualifications and Global chairman and managing for Bahraini companies to
Quality Assurance of Education
invest in the country,” Mr
and Training in Bahrain and the director Dr M I Sahadulla.
The Bahrain business dele- Natchiappan said.
National Assessment and AcThe Indian minister also
creditation Council (NAAC) gation to India will conclude highlighted the National
in India. It was signed by QQA with a second Bahrain-India Manufacturing Zones that
chief executive Dr Jawaher Al Business Forum, organised in are being set up by the Indian
Mudhahki and NAAC director conjunction with the CII, in government.
Mumbai on Friday.
Prof. A N Rai.
l MoU between Khaled AlAmin and Company and BR
Shetty and Company – signed
by Khaled Al Amin and BR
Shetty.
l MoU between VKL Holding
Company and Ansal Buildwell
to jointly develop housing and
real estate projects as well as
infrastructure projects in India
and Bahrain.
l MoU between Bader Group
of Companies and Prime Media
Group – signed by chairman
Fareed Bader and joint chairman Anish Gandhi.
l MoU between the Bahrain
n Mr Ahmed signs deal with the CII official
Business Women’s Society and

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