Time For India And Bahrain To Become Business Partners | SupportBiz

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Time For India And Bahrain To Become Business Partners

 
The governments to frame policies that will be conducive to enhancing trade and investment between the two nations
It's time for India and Bahrain to move on from a typical buyer-seller relationship to one of partners in progress. The mechanism of the Joint Business Council established between FICCI and Bahrain Chamber of Commerce & Industry (BCCI) would play a crucial role in upgrading the ties between India and Bahrain. This platform will give the crucial feedback to the respective governments which in turn will help the governments to frame policies that will be conducive to enhancing trade and investment between the two nations. The first meeting of India-Bahrain Joint Business Council was organized by FICCI in association with the Bahrain Chamber of Commerce & Industry was held at FICCI Federation House today.
 
Maram Saleh, Charge de Affaires, Bahrain Embassy, said there was a need to work towards deepening cooperation between India and Bahrain. She urged the Indian investors to explore the myriad areas open for investment in Bahrain and called upon members of the Bahrain Chamber of Commerce to invest in India as the country offered great investment opportunities and had a high return of investment. 
 
Speaking on Indian economy,  Sanjaya Baru, Director for Geo-Economics and Strategy, International Institute for Strategic Studies, said that India was a country with regional contrasts. Hence investors’ experience would differ from state to state. It was important for investors to deal with state governments to set up their business. He added that it may initially appear difficult to do business in India owing to various impediments but the high return of investment would make the effort worthwhile.
 
 In his presentation Yousef A Khan, Consular, Economic Development Board, Bahrain, said that Bahrain offered a favorable tax regime with no ‘free zone’ restrictions and 100% ownership to the investors. He added that Bahrain was a hub and investors could set up their business in the country to access the whole region, which was connected well with major Gulf countries and beyond.
 
Khaled Al Amin, Chairman, Bahrain-India Joint Business Council, Bahrain side, said that India and Bahrain needed to have closer business ties. Taxation, he said, was posing as a challenge in this relationship and there was a need to pressurize the government to resolve the issue for unhindered growth of business between the two countries. 
 
 Nitin Joshi, Chairman, India-Bahrain Joint Business Council, Indian side, said that IndoBahrain bilateral trade currently (2013-2014) stood at USD 1.2 billion; a spectacular jump from merely USD 220 million in 1999-2000. He added that for trade and investment cooperation various areas like agriculture, infrastructure, healthcare, medical tourism, real estate and pharmaceuticals, were being explored.  
 
Deepak Bagla, Managing Director, Invest India on Investment Opportunities, said that Invest India, a joint venture company between Department of Industrial Policy & Promotion - Ministry of Commerce and Industry - Government of India, Federation of Indian Chambers of Commerce and Industry (FICCI) and various state governments, was responsible for promoting and facilitating investments to India. Invest India is the first reference point for investors and acts as a facilitator and partner offering handholding services to the investors to help them frame their investment plans.