Recognizing the growth potential of the Indian economy, Bahrain on Monday expressed its willingness to participate in the 'Make in India' initiative.
A joint statement released after the first meeting of the India-Bahrain High Joint Commission (HJC), which was co-chaired by External Affairs Minister Sushma Swaraj and her Bahraini counterpart Shaikh Khalid Bin Ahmed Bin Mohamed Al Khalifa, chronicled the discussions between the two leaders.
"Recognizing the enormous growth potential of the Indian economy, the Bahraini side expressed its willingness to consider making investments in India. The Indian side highlighted the investment opportunities in India and underlined the 'Make in India' campaign launched by Prime Minister Narendra Modi on September 25, 2014 inviting foreign entrepreneurs to invest in the manufacturing sectors in India," the statement read.
"The Bahraini side welcomed the decision to open a regional office of the Confederation of Indian Industry in Manama to promote bilateral trade and investment," it added.
During the meeting, Swaraj and Shaikh Khalid Bin Ahmed Bin Mohamed Al Khalifa agreed to expand the existing two-way investments between the two sides, with the former expressing India's gratitude for the liberal treatment of its nationals in Bahrain.
"Sushma Swaraj expressed gratitude for the leadership of the Kingdom of Bahrain to receive and host a large number of Indian expatriate citizens and for ensuring their continued well-being and safety. Shaikh Khalid Bin Ahmed Bin Mohamed Al Khalifa conveyed appreciation for the contribution of the Indian community, through their work ethics, professionalism and sincerity, towards the progress and development of Bahrain," the statement said.
"Both sides noted the existing potential for two-way investments and agreed to provide favourable environment for investors, both from public and private sectors, from the two countries. Both sides agreed for regular and timely exchange of information on available investment opportunities," it added.
Also Read
Earlier in the day, Shaikh Khalid Bin Mohamed Al Khalifa on Monday called on Prime Minister Narendra Modi . The visiting dignitary expressed the deep 'emotional bonds of friendship' that exists between Bahrain and India, reiterating his nation's commitment towards deepening bilateral relations, especially in the fields of defence, security, counter- terrorism and trade and investment sectors.
Prime Minister Modi termed Bahrain ruler King Hamad bin Isa Al Khalifa's visit to India in February 2014 as having provided 'vigour and momentum' to the bilateral relationship between the two nations. The Prime Minister also expressed his appreciation to the support and cooperation being extended by Manama to the Indian community in Bahrain.
The second meeting of the High Joint Commission is scheduled to be held in Manama in 2017.