Presenting itself as a gateway to the Gulf region, Bahrain will seek huge investments from Indian firms across sectors when a high-profile delegation led by King of Bahrain, Hamad bin Isa Al Khalifa, meets Indian leaders next week.
Sectors such as information, communications and technology, manufacturing and financial services for potential investments from India have been identified by Bahrain. Besides, Bahrain is also keen on signing a new double taxation avoidance pact with India, embassy officials have said. The two countries already share an investment protection pact.
According to official spokesperson of the ministry of external affairs, Syed Akbaruddin, ?King of Bahrain Hamad bin Isa Al Khalifa is paying a state visit to India on February 18-20, during which he will hold talks with PM Manmohan Singh on bilateral, regional and global issues. The visit ? his first to India ? is at the invitation of President Pranab Mukherjee.?
The King will lead a high-profile delegation which will visit Delhi and Mumbai. It will comprise political and private sector leaders as well as trade and economic representatives under the umbrella of the Bahrain Development Board. King Hamad will meet the President and Vice President and will hold delegation-level talks with the PM and industry leaders.
The two countries have friendly relations, characterised by shared interests, mutual trust and people-to-people contact. Bahrain is an important trading partner for India with New Delhi’s non-oil bilateral trade in 2012-13 exceeding $1.3 billion. Over 350,000 Indian nationals contribute to the development of Bahrain.
?The positive and well-appreciated contribution of Indians in the development of Bahrain has been an important pillar of our excellent bilateral engagement. The visit is expected to provide fresh impetus to our bilateral ties,? the MEA stated ahead of the visit.
The region is the source of roughly two-thirds of India’s crude oil requirements and is the largest trading region for the country, accounting for over 26% of global trade.
