India-Bahrain commit for bilateral trade
Indian External Affairs Minister Mrs. Sushma Swaraj has revamped India and Bahrain’s strategic ties and trade relations. She was in Bahrain for a 2-day visit. She met the Bahrain King Hamad, PM Khalifa bin Salman Al Khalifa and the foreign minister Shaikh Khalid bin Ahmed Al Khalifa in Manama organised by Overseas Indian Facilitation Center (OIFC). Bahrain is inhabited by 350000 Indian nationals, who work there and contribute to the development of the country.
Bahrain foreign minister Shaikh Khalid bin Ahmed Al Khalifa laid great emphasis on these new beginnings between the two nations by joining hands with the participation of businessmen and investors from both the sides to promote economic relations and provide investment opportunities. This trade between the India and Bahrain has crossed $1.3 billion in 2013-14 and as per the speculations will cross $1.7 billion soon. The Indian exports which largely consist of chemicals, compounds of precious metals, boilers, electronics etc.have gone up by 80% recently.
India’s major non-oil exports include chemicals, compounds of precious metals, boilers, electrical and electronic machinery and vehicles with spare parts.
The visit reiterates India’s commitment towards progressing on many fronts together and move from typical buyer-seller relationship model to one where both are partners in progress and are able to contribute tremendously in each-other’s growth. Bahrain’s membership in GCC can also boost India’s trade sector as its products can be introduced abroad.
Categories: India Current Affairs 2017