The Bahrain India Society (BIS) new Board met with the Indian Ambassador. Piyush Srivastava and decided to further deepen the ties with the embassy.
Those present were Abdulnabi Alshoála, the founder chairman of BIS, Abdul Rahman Juma – Chairman, P S Balasubramanyam – Vice Chairman, Zahra Taher – General Secretary, Vijay Boloor – Treasurer and other Board Members Mohammed AlKhaja, Kishore Kewalram . Harish Gopinath, Talal Al Mannai, Soman Baby and Vinod Das. The Second secretary & Head of Chancery Ravi Kumar Jain was also present.
The Ambassador, while expressing satisfaction at growing trade and economic cooperation between India and Bahrain, expressed the need to further deepen trade, investment, education and economic cooperation between the two countries.
Some of the potential sectors highlighted by the Ambassador included renewable energy, pharmaceutical production, IT – data center, agro processing, logistics, tourism and infrastructure. Mr Srivastava also emphasized the importance of the BIS working closely with the EDB, The Bahrain Chamber of Commerce, and the Ministry of Industry, Commerce and Tourism.
The Chairman of BIS highlighted the various initiatives taken by the society to achieve its objectives. Some of which are:
- Working with the Indian Embassy to foster closer relationship in terms of economic, cultural, sports and scientific field between Bahrain and India.
- Developing relations between the Confederation of Indian Industry (CII), The Federation of Indian Chambers of Commerce & Industry (FICCI), The Institute of Chartered Accountants of India (ICAI) and other National Organizations of India which can lead to the promotion of trade & commerce between Bahrain and India.
- To have closer coordination between other entities in India about business opportunities available in India which can be disseminated to the business community in Bahrain.
- Setting up of Indian companies in Bahrain to take advantage of the FTA agreement between US and Bahrain.
- Hold a Bahrain- India Trade fair/show in coordination with the Embassy of India for specific sectors like Technology, Manufacturing and Tourism with participants from both countries
- Create a Help Desk for Investors in coordination with the Embassy of India for investors of both countries to coordinate and explore opportunities for investments and assist these investors from both countries.
- Publish a booklet jointly with the Indian Embassy about general country information and doing business environment and legal structures in India and Bahrain .
- To actively pursue the achievement of Double Taxation Avoidance Agreement (DTAA) between Bahrain and India. In this regard the BIS Chairman handed over a letter addressed to Nirmala Sitharaman – Minister of Finance – India, giving justification for such an agreement.
- BIS’ plan to hold a program next month to celebrate the commemoration of 50 years of diplomatic relationship between India and Bahrain as well as the 75th Independence Day of India. The focus during this event will be on culture and food.
The Board thanked the Ambassador for his support and encouragement to the BIS and assured him that the BIS will work closely with the Embassy to achieve all its objectives.