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Bahrain woos Indian firms
Monday, 04 November 2002, 20:30 IST
DUBAI: A senior Bahraini minister has said the country's business community can benefit by forging closer links with India.
Commerce and Industry Minister Ali Saleh Al Saleh, opening an Indian exhibition in Manama, said the country is very keen to use the expertise of Indian business partners in promoting and developing small and medium industries.
"We are actively wooing Indian companies to set up regional bases in the new industrial area being developed in Bahrain for opening in 2004," he was quoted as saying in the Bahrain Tribune newspaper.
India Catex 2002 is the third catalogue exhibition showcasing Indian goods and services in Bahrain. It features an exposition of catalogues from 400 firms along with audio-visual shows on Indian economy, industry and tourism.
Trade directories, CD-Roms and other information materials are also on display and for distribution to visitors in the show organised by the Indian embassy.
Inviting Indian companies to set up regional operations, the minister said Bahrain "will continue to benefit from India's proven IT expertise, in developing more knowledge-based industries in the next phase of expansion of the Hidd Industrial Area.
"We invite Indian industries to establish their presence for regional operation in the new location, which should be ready by 2004," the minister told a newspaper.
Indian Ambassador Bhaskar Kumar Mitra said the exhibition had grown significantly in size since it was launched three years ago.
"The exhibition, held for the past two years, evokes overwhelming response and appreciation from local and expatriate business people," said Mitra.
"Encouraged by the positive feedback, the Indian embassy has decided to make this a regular annual event."
Rajeev Shahare, counsellor at the Indian embassy, said: "As Bahrain accords high priority to IT sector, we intend to allocate a special section to IT companies in forthcoming catalogue exhibition.
"This would provide an ideal window to showcase India's huge potential and capability in the IT sector. In addition, given the boom in construction sector, efforts have been made to present catalogues of reputed Indian companies and manufacturers of construction equipment and materials."
Shahare said the seminar on small and medium enterprise (SMEs) organised by the embassy in coordination with the commerce and industry ministry alongside Catex 2001 generated a number of proposals for setting up such industries in Bahrain.
"These are being examined and feasibility reports are under preparation by the National Small Industries Corporation of India," he said.
While India and Bahrain have always enjoyed close economic and commercial ties, the past two years witnessed a spurt in economic and commercial activities.
Trade in 2001 was $160 million, registering a substantial growth over last year.
In May 2001, during the visit of a 15-member delegation led by the Electronics and Computer Software Export Promotion Council (ESC) from India a memorandum of understanding (MoU) was signed with Bahrain's Economic Development Board (EDB) -- the nodal agency for development of IT sector in Bahrain.
The EDB during its recent visit to India signed two MoUs with National Small Industries Corporation of India and Federation of Indian Chambers of Commerce & Industries for development of SMEs, IT and telecom sectors.
Source: IANS
Source: IANS