BENGALURU: Indian companies are showing more interest in investing in Bahrain, particularly in healthcare, manufacturing, and technology sectors. This year, Bahrain is expected to receive over USD 50 million in investments just for its healthcare sector.
Additionally, the country will also receive an investment from a company in Chennai that is into manufacturing electronic equipment.
"When it comes to IT, we are seeing incredible growth and it is one of the fastest growing sectors," said Noor bint Ali Alkhulaif, Minister of Sustainable Development, Chief Executive of Bahrain EDB.
Led by the minister, Team Bahrain is on a tour across India showcasing the country's investment opportunities.
At the Bengaluru event on Thursday, the minister said Bahrain has secured investment commitments of about USD 16.65 million from three companies excluding projected investments in the healthcare sector and a Chennai-based manufacturing company.
Among the Indian companies that are investing, Chemco has planned its third expansion in Bahrain since it first announced its plans to set up its factory in Bahrain in 2013. Bhageria Industries is investing in Bahrain with plans to develop an 11.40 MW solar project. The third company, an ICT firm, is setting up its regional headquarters in Bahrain.
In the ICT sector, companies such as Tech Mahindra and TCS have invested in the country. For Bahrain, India is the sixth largest investing country.
Talking about investment opportunities, Ali Al Mudaifa, Chief of Business Development, Bahrain EDB, said, FDI inward stocks from India increased from USD 1.11 billion in 2019 to USD 1.52 billion in 2023.
India’s FDI stock in Bahrain has grown by 36.6 per cent between 2019 and 2023, adding an average of USD 102 million annually.
According to the ministry of commerce and industry, GoI, data India's export to Bahrain in 2022-23 stood at USD 965.25 million and its imports stood at USD 1,014.50 million.
Noor bint Ali Alkhulaif added, "This cumulative investment reflects the strength and competitiveness of Bahrain’s value-proposition and fast-growing reputation as a key regional hub for leading manufacturing and niche technology firms seeking a trusted international destination for expansion.”