PHD Chamber of Commerce and Industry is mounting a high
level business delegation away to Bahrain to organize a “India Business
Partnership Summit” slated for 7th of February, the basic objective of which is
to further cement the trade and economic ties between India and Bahrain in the
emerging business scenario.
The Summit is coinciding
with two-days Gulf Industry Fair between 7th & 9th February, which
is scheduled to be inaugurated by Prince Khalifa Bin Salman Al Khalifa, Prime
Minister of Kingdom of Bahrain.
The delegation to be led by Senior Vice President of the
PHD Chamber, Mr. Anil Khaitan will have representation of around 25 to 30
Indian companies, having diverse business interests with multiple products and
services is likely to have intense and protected discussions and parleys with
their counterparts at India Business Partnership Summit, said Mr. Khaitan in a
press statement issued here.
Some of the key business sectors that would have
representation in the delegation, consists of sectors such as energy including
solar, real estate, financial services, venture capital funds, logistics, ports
and maritime, startups, aluminium, manufacturing, industrial metals (steel and
alloys) and academic and research bodies.
Chairman, Housing and Urban Development Committee, PHD
Chamber, Mr. Manish Aggarwal would be the deputy leader of the delegation,
however, pointed out that the real estate and construction sector which is
growing leaps and bound in India particularly with emphasis on ‘Housing for
All’ could attract partnership from Bahrain for smart cities in India.
Mr. Khaitan further emphasized that it is for the first
time that such a diverse business delegation is being mounted by the PHD
Chamber to a country, with which variety of business and economic relations
could be carved out for mutual gains as also spur up two-way economic and
bilateral trade, the potential of which is so large as to be realized sooner
than anticipated.
The Chamber holds that this unique summit which is
happening for the first time also aims to combine the strengths of Bahrain and
GCC countries with the vibrancy & scale of India to discuss new ways of
cooperation between Industries and to further build partnerships for mutual
business cooperation.
India and Bahrain enjoy excellent bilateral relations
characterized by cordial political, economic and cultural contacts. The upward
trend demonstrated in the latest trade figures surpassed one billion US
dollars. The recent resurgence in trade volume, interestingly, is based on
non-oil sector. Financial services, real estate, plastics, and automotive
components are major contributors to the current uptrend. Key initiatives such
as opening doors to FDI, 100 Smart Cities, Make in India, Digital India, Oil
& Gas sectors are critical to boost India’s efforts to revitalize the
economy. These initiatives have generated much interest from Bahrain companies
seeking opportunities in India & Indian companies exploring partnerships
with Bahrain companies.
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