India, Bahrain convey commitment to improve bilateral trade, investment

India and Bahrain trade and commerce ties are on an upsurge. India and Bahrain trade and commerce has amassed momentum over the years and is assured to increase more with stress on partnerships in important sectors. Now the stress is on shifting from a characteristic buyer-seller relation to partners in progress. Significant areas include agriculture, infrastructure, healthcare, medical tourism, real estate and pharmaceuticals.
Key points on India-Bahrain Trade and Commerce relations:-

•  Bilateral trade crossed $1,3 billion mark in 2013-14 and is expected to cross $1.5 billion.
• India’s export to Bahrain has gone up by more than 80% over the past 5 years from $252 million to $603 million in 2012-13.
• India’s key non-oil exports include chemicals, compounds of precious metals, boilers, electrical and electronic machinery and vehicles with spare parts.
• Other than oil , India imports Aluminium, Iron and Steel, Salt, Sulphur, Plastering Materials, Lime and Cement, Fertilizers, etc. 

Why Bahrain is important for India?
Besides regular Business relations with Bahrain; Bahrain is important for India as being a member of GCC (Gulf Cooperation Council) and Bahrain’s Free Trade Agreements (FTAs) with European nations and NAFTA (North American Free Trade Agreement) can offer easygoing entry of Indian goods to the destinations abroad.

Month: Current Affairs - September, 2014