Dubai | Bahrain provides an ideal gateway for Indian businesses seeking access to the fast-growing market of the wider Gulf region, a senior government official has said. Vivian Jamal, Bahrain’s Economic Development Board (EDB) executive director of business development, said India and Bahrain have trade ties stretching back to thousands of years.
Our countries are highly connected economically and culturally, with a large number of Indian companies choosing Bahrain as a base to access the wider Gulf region, he was quoted as saying by Gulf Daily News. An EDB delegation visited India recently to attend the ‘Vibrant Gujarat Global Business Summit’ in Ahmedabad and the annual summit of the Confederation of Indian Industry (CII) in Jaipur, where it was an event sponsor.
The EDB officials met representatives of Indian businesses looking to access Bahrain and the fast-growing Gulf Cooperation Council (GCC) market during both the events. In Bahrain Indian businesses will find the most open economy in the GCC, with a competitive tax regime, world-class regulation, one of the most educated workforces in the GCC and high connectivity and access to regional markets, Jamal said. In September, the CII announced that it would open its first Middle East office in Bahrain.
A large number of Indian businesses have operations in Bahrain eyeing the Gulf market. Leading Indian companies with offices or facilities in Bahrain include Tata Consultancy Services, Tech Mahindra, First Flight Couriers Limited, Kerala Institute of Medical Sciences, JBF Industries, Chemco Plastics, Canara Bank, ICICI Bank, Bank of Baroda and State Bank of India.
The EDB established international offices in both New Delhi and Mumbai to provide assistance to Indian businesses looking to invest in the kingdom and to learn more about the regional investment opportunities. The EDB provides assistance to Indian investors interested in setting up facilities in Bahrain throughout the entire process, the newspaper report said.